Honorable Rafael Anchia, Chair, House Committee on International Trade & Intergovernmental Affairs
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
SB940 by Taylor, Van (Relating to the notification duties of a state governmental entity with public retirement system investment holdings in Sudan or Iran.), As Engrossed
No significant fiscal implication to the State is anticipated.
The bill would amend Government Code to require ERS and TRS to notify the Comptroller of Public Accounts and the Pension Review board of direct or indirect holdings of certain companies, within 30 days upon receiving a list of such companies. The agencies indicate that any costs associated with implementing the bill could be absorbed within existing resources.
The bill would take effect on September 1, 2015.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies:
323 Teacher Retirement System, 327 Employees Retirement System