LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 78TH LEGISLATIVE REGULAR SESSION

May 13, 2003

TO:	Honorable Frank Madla, Chair, Senate Committee on Intergovernmental Relations
FROM:	John Keel, Director, Legislative Budget Board
IN RE:	HB3312 by Capelo (Relating to substitution of securities by a depository for a county.), As Engrossed

No fiscal implication to the State is anticipated.

The bill would authorize a county commissioners court to adopt a procedure for approving a substitute or replacement security and to designate a county employee or official, including the county judge,  to approve the substitute or replacement security.

The bill would take effect immediately if it receives a two-thirds vote in each house; otherwise it would take effect September 1, 2003.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

LBB Staff:

JK, DLBa