Honorable Kenneth Armbrister, Chair, Senate Committee on Natural Resources
FROM:
John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:
SB1045 by Janek (Relating to insurance coverage in lieu of a bond requirement for officers, employees, and consultants of certain conservation and reclamation districts.), As Introduced
No fiscal implication to the State is anticipated.
The bill would authorize the board of certain conservation and reclamation districts to require an officer, employee, or consultant to obtain insurance that covers theft of district funds in lieu of requiring a bond if the board determines that the insurance would adequately protect the district's interests. The bill would take effect September 1, 2005.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.