Honorable John Zerwas, Chair, House Committee on Appropriations
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
HB236 by Krause (Relating to the creation of the Fiscal Risk Management Commission.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend Title 10 (general government), Subtitle C (state accounting, fiscal management, and productivity), of the Government Code.
The bill would add new Chapter 2117 to create the Fiscal Risk Management Commission, composed of the Comptroller, the Speaker of the House or designee, the Lieutenant Governor or designee, and four members of the public with state and federal fiscal policy and budgetary analysis experience appointed by the Governor. The Comptroller would serve as the presiding officer. On request, the State Auditor may provide advice and technical assistance. The commission would study the effects of federal fiscal policies on the Texas economy; the amount of federal money received by each state agency and the effects from a significant reduction of that source of money for state agencies; the effect of the devaluation of the U.S. currency; the risks presented by acts of economic terrorism; and other macroeconomic threats to the state economy.
The commission would biennially develop and publish a plan to effectively and efficiently address the effects and risks the commission identifies. Not later than September 1 of each even-numbered year, the commission would submit a report on its findings. The first report would be submitted not later than September 1, 2020.
The bill would take effect immediately upon enactment, assuming that it received a vote of two-thirds of all members elected to each house of the Legislature. Otherwise, it would take effect September 1, 2019.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies:
304 Comptroller of Public Accounts, 479 State Office of Risk Management