LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION

March 21, 2011

TO:	Honorable Vicki Truitt, Chair, House Committee on Pensions, Investments & Financial Services
FROM:	John S O'Brien, Director, Legislative Budget Board
IN RE:	HB2193 by Truitt (Relating to service and qualifications for membership on an advisory committee established by the Employees Retirement System of Texas to provide advice to the board of trustees on investments and investment-related issues.), As Introduced

No significant fiscal implication to the State is anticipated.

The bill would amend Chapter 815 of the Government Code relating to service and qualifications for membership on an investment advisory committee established to provide advice to the Employees Retirement System Board of Trustees on investments and investment-related issues.  The bill would establish eligibility and ineligibility for membership on the advisory committee, and provide for the review and removal of a member from the advisory committee. 

It is anticipated that any additional costs associated with implementation of the legislation could be absorbed within existing resources.

The bill would take effect on September 1, 2011. 

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

327 Employees Retirement System

LBB Staff:

JOB, AG, MS, DEH