LEGISLATIVE BUDGET BOARD
Austin, Texas
 
FISCAL NOTE, 80TH LEGISLATIVE REGULAR SESSION
 
May 24, 2007

TO:
Honorable Tom Craddick, Speaker of the House, House of Representatives
 
FROM:
John S. O'Brien, Director, Legislative Budget Board
 
IN RE:
HB860 by Paxton (Relating to management, investment, and expenditure of institutional funds and adoption of the Uniform Prudent Management of Institutional Funds Act.), As Passed 2nd House

No significant fiscal implication to the State is anticipated.

The bill would create standards for the management and investment of charitable funds and for endowment spending by institutions organized and operated exclusively for a charitable purpose. It is anticipated that any costs associated with implementation of the bill could be absorbed within existing state resources.

Local Government Impact

No fiscal implication to units of local government is anticipated.


Source Agencies:
302 Office of the Attorney General, 701 Central Education Agency, 720 The University of Texas System Administration
LBB Staff:
JOB, KJG, MS, JM