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

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.