FISCAL NOTE, 85TH LEGISLATURE 1st CALLED SESSION - 2017
August 6, 2017
TO:
Honorable John Zerwas, Chair, House Committee on Appropriations
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB363 by Howard (Relating to the allocation of certain funds designated for transfer to the retired school employees group insurance fund.), As Introduced
No significant fiscal implication to the State is anticipated.
This bill would amend Chapter 316 (appropriations) of the Government Code, relating to the allocation of certain funds designated for transfer to the Retired School Employees Group Insurance Trust Fund (RSEGITF).
The bill would amend Section 316.093, regarding adjustments to the constitutional allocations to the Economic Stabilization Fund (ESF) and the State Highway Fund (SHF).
The bill would require the Comptroller to allocate any funds designated for transfer to the RSEGITF under Section 49-g(c-3), Article III, Texas Constitution (as in proposed HJR 52), to the ESF, until the sufficient balance adopted under Section 316.092 is achieved. If the ESF sufficient balance has not been adopted the Comptroller would be required to adjust the allocation between the ESF, SHF, and RSEGITF as required by Section 49-g (c), Article III, Texas Constitution, in the amounts that would prevent the ESF from exceeding its allowable limit.
The bill alone would have no fiscal implications. Any fiscal implications would be attributed to the corresponding constitutional amendment and are discussed in the fiscal note for HJR 52.
This bill would take effect January 1, 2018, but only if the constitutional amendment (HJR 52) proposed by the 85th Legislature, 1st Called Session, 2017, is approved by the voters. If that constitutional amendment is not approved by the voters, the bill would have no effect.
Local Government Impact
No fiscal implication to units of local government is anticipated.