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