LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION

March 31, 2015

TO:	Honorable Tan Parker, Chair, House Committee on Investments & Financial Services
FROM:	Ursula Parks, Director, Legislative Budget Board
IN RE:	HB3132 by Parker (Relating to the authorization for municipalities to hire advisors authorized under the Securities Exchange Act of 1934), As Introduced

No significant fiscal implication to the State is anticipated.

The bill would amend the Government Code to modify the registration requirements of an individual to be eligible to a be a financial adviser or an investment adviser. 

Local Government Impact

The Texas Municipal League reported no fiscal impact to municipalities is anticipated.

Source Agencies:

312 Securities Board

LBB Staff:

UP, CL, SD, EK