TO: | Honorable Burt R. Solomons, Chair, House Committee on State Affairs |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | HB3782 by Gallego (Relating to disclosure by certain municipalities and counties regarding participation of financial services firms and consultancies that are minority-owned businesses or women-owned businesses.), Committee Report 1st House, Substituted |
The bill would amend the Government Code to require a municipality with a population greater than 250,000 or county with a population greater than 500,000 to disclose to the Comptroller of Public Accounts whether any of the financial services firms or consultancies advising the municipality or the county regarding municipal or county bonds which are minority-owned or women-owned businesses. In addition, the Comptroller would be required to compile the information submitted by the local governments, and submit a biennial report. It is assumed that any additional costs associated with implementation of the bill could be absorbed within existing state resources.
Source Agencies: | 304 Comptroller of Public Accounts
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LBB Staff: | JOB, KJG, JM
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