LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION

April 27, 2009

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 historically underutilized businesses.), As Introduced

No significant fiscal implication to the State is anticipated.

The bill would amend the Government Code to require a municipality or county with a population greater than 150,000 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 historically underutilized 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.

Local Government Impact

No significant fiscal implication to units of local government is anticipated.

Source Agencies:

304 Comptroller of Public Accounts

LBB Staff:

JOB, KJG, JM