| TO: | Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services |
| FROM: | John S. O'Brien, Director, Legislative Budget Board |
| IN RE: | HB2336 by Truitt (Relating to municipal investment of public funds received from the management and development of mineral rights.), As Introduced |
HB 2336 allows for the investment of funds received by a municipality from a lease or contract for the management and development of land owned by the municipality and leased for mineral development. These funds would be segregated and accounted for separately from other funds of the municipality.
The bill, if enacted, will not have a significant actuarial effect because it does not propose to change the funding or obligations of any public retirement system.
| Source Agencies: | 338 Pension Review Board
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| LBB Staff: | JOB, WM
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