Request for Proposals for Public Finance Legal Counsel Services

The Texas Comptroller of Public Accounts issued Request for Proposals (RFP) No. 240p on April 8, 2026, to procure qualified independent attorneys and law firms specializing in public finance law to serve as outside legal counsel on an as-needed, project-by-project basis. The procurement seeks legal services encompassing analysis, advice, and recommendations on statewide public finance matters, including municipal and financial market developments, regulatory compliance, securities and tax law, disclosure practices, derivatives and swaps structures, state and local debt issuance, legislative matters, and specialized public finance issues such as liquidity and pension funding. Successful respondents must maintain professional malpractice insurance of not less than three million dollars and demonstrate expertise in public finance law. The contract will be structured on an hourly basis with rates specified by attorney level and paralegal services, with hourly rates guaranteed through the initial two-year term and any renewal period rates limited to no more than five percent annual increases. The schedule includes written questions due by April 15, 2026, official responses posted by April 17, 2026, proposals due by May 7, 2026 at 2:00 p.m. submitted electronically in searchable PDF format to the Comptroller's Issuing Office, contract execution anticipated for August 1, 2026, and work commencement on September 1, 2026. The contract term runs from September 1, 2026, through August 31, 2028, with two optional one-year renewal periods exercisable at the Comptroller's sole discretion extending through August 31, 2030.

Respondents must complete and submit a Texas Historically Underutilized Business (HUB) Subcontracting Plan with their bid response, as this procurement exceeds the $100,000 threshold requiring demonstration of good faith efforts to utilize Texas certified HUB vendors. The HUB plan requires respondents to identify all subcontracting opportunities and specify the percentage of contract value expected to be awarded to HUB versus non-HUB vendors, with three compliance pathways available including exclusive use of certified HUBs, mixed subcontracting meeting or exceeding the agency's HUB goal, or documentation of good faith outreach efforts if HUB percentages fall below established goals. No specific incumbent vendors or current contractors are identified in the procurement documents, and no predetermined budget range or award value is stated in the materials provided. The Comptroller retains the right to terminate the contract for convenience without penalty, may solicit additional legal counsel at any time, and does not guarantee any minimum amount of work. All work products and deliverables become the property of the Comptroller with unrestricted usage rights. Reimbursable expenses include pre-approved volume copying, overnight courier services, and pre-approved travel expenses in accordance with Texas state travel regulations, while non-reimbursable items such as office supplies, telecommunications, local travel, and utilities are incorporated into hourly rates.