Honorable Steve Ogden, Chair, Senate Committee on Finance
FROM:
John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:
SB1646 by Staples (Relating to the management of public school land and the permanent school fund.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill revises statute to allow for the implementation of several of the recommendations made in a June 2004 State Auditor Office audit report on the General Land Office’s (GLO) Asset Management Division including allowing the School Land Board (SLB) to set sales prices on real property and allowing the SLB to appoint fund managers to help manage real estate investments.According to the GLO, any costs associated with these revisions can be absorbed within existing agency resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.