LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 78TH LEGISLATIVE REGULAR SESSION

March 16, 2003

TO:	Honorable Allan Ritter, Chair, House Committee on Pensions & Investments
FROM:	John Keel, Director, Legislative Budget Board
IN RE:	HB1840 by Solomons (Relating to a fee established and set by the State Securities Board.), As Introduced

No significant fiscal implication to the State is anticipated.

The bill would authorize the State Securities Board to establish and set certain fees in amounts reasonable and necessary to produce sufficient revenue to cover the costs of administering and enforcing the Securities Act.

The board could not set a fee for an amount less than the amount of that fee on September 1, 2003. It is assumed fee levels would not be changed from their current level before September 1, 2003.

The agency is currently covering the cost of administering and enforcing the Securities Act with the current fee structure.  The make up of the fee structure would change with the implementation of this bill, but it is assumed the overall amount of fee revenue would be the same.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:	304 Comptroller Of Public Accounts, 312 Securities Board
LBB Staff:	JK, RR, RT, RB, AD