LEGISLATIVE BUDGET BOARD
                              Austin, Texas
                                     
                    FISCAL NOTE, 77th Regular Session
  
                              April 2, 2001
  
  
          TO:  Honorable Rodney Ellis, Chair, Senate Committee on Finance
  
        FROM:  John Keel, Director, Legislative Budget Board
  
       IN RE:  SJR20  by Duncan (Proposing a constitutional amendment
               relating to the authority to invest and manage the
               permanent school fund.), Committee Report 1st House,
               Substituted
  
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*  No significant fiscal implication to the State is anticipated,        *
*  other than the cost of publication.                                   *
*                                                                        *
*  The cost to the state for publication of the resolution is $80,000.   *
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Local Government Impact
  
No fiscal implication to units of local government is anticipated.
  
  
Source Agencies:   701   Texas Education Agency, 304   Comptroller of
                   Public Accounts
LBB Staff:         JK, SD, UP