LEGISLATIVE BUDGET BOARD
Austin, Texas
 
FISCAL NOTE, 78TH LEGISLATIVE REGULAR SESSION
 
April 15, 2003

TO:
Honorable Bill Ratliff, Chair, Senate Committee on State Affairs
 
FROM:
John Keel, Director, Legislative Budget Board
 
IN RE:
HB1171 by Madden (Relating to the notice required to be given to a governmental entity to recover in a suit on a payment bond.), As Engrossed

No significant fiscal implication to the State is anticipated.

The bill would amend the Government Code by stating that if a governmental entity fails to obtain a payment bond from a prime contractor, to recover in a suit the only notice a payment bond beneficiary is required to provide to a governmental entity is a notice.  The notice must be provided as if the governmental entity were a surety.

 

The bill would take effect September 1, 2003.


Local Government Impact

No fiscal implication to units of local government is anticipated.


Source Agencies:
302 Office of the Attorney General, 303 Building and Procurement Commission, 304 Comptroller of Public Accounts, 347 Public Finance Authority, 601 Department of Transportation
LBB Staff:
JK, RR, MS, ZS