Honorable Gary Elkins, Chair, House Committee on Government Transparency & Operation
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB3408 by Stephenson (Relating to posting certain municipal financial information on the Internet.), As Introduced
No fiscal implication to the State is anticipated.
The bill would amend the Local Government Code to require a municipality that maintains an Internet website to post the municipality's comprehensive annual financial report on the website as soon as the report is available and maintain the posting at all times until the third anniversary of the report. The bill provides the requirements and a definition of "comprehensive annual financial report".
Local Government Impact
No significant fiscal implication to units of local government is anticipated.