LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 77th Regular Session January 26, 2001 TO: Honorable Teel Bivins, Chair, Senate Committee on Education FROM: John Keel, Director, Legislative Budget Board IN RE: SB230 by Harris (Relating to the transfer of funds to optional retirement programs for certain employees of public schools.), As Introduced ************************************************************************** * No fiscal implication to the State is anticipated. * ************************************************************************** Local Government Impact No significant fiscal implication to units of local government is anticipated. The bill would establish new requirements for school districts regarding the time frame for transferring funds on behalf of district employees to optional retirement programs. To the extent that charges for electronic fund transfers are greater than check processing fees, districts that currently do not use electronic fund transfers would incur additional administrative expenses. The annual notice concerning the designee's ability to accept electronic funds transfer would not likely result in a significant expense to local school districts. Source Agencies: 701 Texas Education Agency LBB Staff: JK, CT, PF