LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION

Revision 1

April 11, 2011

TO:	Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services
FROM:	John S O'Brien, Director, Legislative Budget Board
IN RE:	HB1677 by Rodriguez, Eddie (Relating to the administration and funding of retirement systems for firefighters in certain municipalities.), As Introduced

No fiscal implication to the State is anticipated.

The bill would amend the Vernon’s Texas Civil Statutes to increase the funding of the retirement system for firefighters in the City of Austin. Every year through 2012, the City of Austin would be required to contribute an increasingly greater percent of compensation of all members into the firefighter’s relief and retirement fund.

Every year through 2016, an individual firefighter in the City of Austin would be required to contribute an increasingly greater percent of compensation into the firefighter’s relief and retirement fund.

Local Government Impact

The City of Austin reported there would not be a significant fiscal impact to implement the provisions of the bill.

Source Agencies:

LBB Staff:

JOB, AG, TP