LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 78TH LEGISLATIVE REGULAR SESSION

March 10, 2003

TO:	Honorable Kenny Marchant, Chair, House 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 Introduced

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