Supplement: TX HB4853 | 2023-2024 | 88th Legislature | Fiscal Note (House Committee Report)
For additional supplements on Texas HB4853 please see the Bill Drafting List
Bill Title: Relating to the issuance of obligations by certain counties to pay the unfunded liabilities of the county to a public retirement system.
Status: 2023-04-24 - Committee report sent to Calendars [HB4853 Detail]
Download: Texas-2023-HB4853-Fiscal_Note_House_Committee_Report_.html
Bill Title: Relating to the issuance of obligations by certain counties to pay the unfunded liabilities of the county to a public retirement system.
Status: 2023-04-24 - Committee report sent to Calendars [HB4853 Detail]
Download: Texas-2023-HB4853-Fiscal_Note_House_Committee_Report_.html
| TO: |
Honorable Giovanni Capriglione, Chair, House Committee on Pensions, Investments & Financial Services |
| FROM: |
Jerry McGinty, Director, Legislative Budget Board
|
| IN RE: |
HB4853 by Jetton (relating to the issuance of obligations by certain counties to pay the unfunded liabilities of the county to a public retirement system.), Committee Report 1st House, Substituted |
No significant fiscal implication to the State is anticipated.
The bill would amend the Local Government Code to provide Fort Bend County the authority to issue pension obligation bonds. It is assumed any costs associated with implementing the provisions of the bill could be absorbed using existing resources.
Local Government Impact
According to Fort Bend County, implementing the provisions of the bill would result in savings of an estimated $40 million over 20 years from investment earnings.
| Source Agencies: | 338 Pension Review Board, 352 Bond Review Board |
| LBB Staff: | JMc, MOc, LCO, JPO |
