LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 77th Regular Session March 21, 2001 TO: Honorable Rodney Ellis, Chair, Senate Committee on Finance FROM: John Keel, Director, Legislative Budget Board IN RE: SB1547 by Duncan (Relating to the establishment of an investment advisory board by the comptroller of public accounts.), As Introduced ************************************************************************** * No significant fiscal implication to the State is anticipated. * ************************************************************************** The bill would amend the Government Code by establishing an Investment Advisory Board (IAB). The IAB would advise the Comptroller regarding investments that the Comptroller makes, not including the deposit of state funds in a state depository. The Comptroller would be required to appoint to the IAB members who possess the expertise appropriate for providing advice with regard to investments that the Comptroller might make. The number of IAB members would be determined by the Comptroller. Chapter 2110 of the Government Code, relating to state agency advisory committees, would not apply to the IAB. According to the Comptroller's office, there would be no additional administrative costs. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies: 304 Comptroller of Public Accounts LBB Staff: JK, SD, WP