Honorable John Otto, Chair, House Committee on Appropriations
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB1551 by Howard (Relating to money distributed by the School Land Board to the available school fund or to the State Board of Education for investment in the permanent school fund.), As Introduced
No fiscal implication to the State is anticipated.
This bill would implement recommendations in the report, "Increase Transparency of Discretionary Transfers From the School Land Board's Real Estate Special Fund" in the Legislative Budget Board's Government Effectiveness and Efficiency Report submitted to the Eighty-fourth Texas Legislature, 2015.
The bill would direct the School Land Board (SLB) to adopt rules to establish the procedure that will be used to determine the date a transfer from the Real Estate Special Fund will be made and the amount of money that will be transferred. The bill would require SLB to submit, not later than September 1 of each even-numbered year, a report that states the date a transfer will be made and the amount of money the board will transfer during the subsequent state fiscal biennium. The General Land Office reports this would not have a fiscal impact to the agency or the state.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies:
304 Comptroller of Public Accounts, 305 General Land Office and Veterans' Land Board