LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 77th Regular Session April 7, 2001 TO: Honorable Florence Shapiro, Chair, Senate Committee on State Affairs FROM: John Keel, Director, Legislative Budget Board IN RE: SB988 by Duncan (Relating to commissions on certain negotiated bond sales.), As Introduced ************************************************************************** * No significant fiscal implication to the State is anticipated. * ************************************************************************** Local Government Impact According to the Bond Review Board, local issuers of bonds such as independent school districts would see an increase in the amount of interest payable over the life of bonds because they would be resold at a premium. The premium received would be used to compensate the original purchaser of the bonds, the underwriter. Source Agencies: 352 Texas Bond Review Board, 312 State Securities Board, 304 Comptroller of Public Accounts LBB Staff: JK, RB