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LEGISLATIVE BUDGET BOARD
Austin, Texas
 
FISCAL NOTE, 87TH LEGISLATURE 3rd CALLED SESSION 2021
 
September 29, 2021

TO:
Honorable Jane Nelson, Chair, Senate Committee on Finance
 
FROM:
Jerry McGinty, Director, Legislative Budget Board
 
IN RE:
SB2 by Nelson (Relating to an appropriation of certain federal coronavirus relief money for paying down the state's unemployment insurance debt.), As Introduced


Estimated Two-year Net Impact to General Revenue Related Funds for SB2, As Introduced : an impact of $0 through the biennium ending August 31, 2023.

However, there would be a cost of $7.2 billion to the Coronavirus Relief Fund 325.

Appropriations:

Fiscal Year Appropriation out of
CORONAVIRUS RELIEF FUND
325
2022$7,245,419,946
2023$0

General Revenue-Related Funds, Five- Year Impact:

Fiscal Year Probable Net Positive/(Negative) Impact to
General Revenue Related Funds
2022$0
2023$0
2024$0
2025$0
2026$0

All Funds, Five-Year Impact:

Fiscal Year Probable (Cost) from
CORONAVIRUS RELIEF FUND
325
2022($7,245,419,946)
2023$0
2024$0
2025$0
2026$0


Fiscal Analysis

The bill would make a supplemental appropriation to the Comptroller of Public Accounts of money received by the state from the Coronavirus State Fiscal Recovery Fund under the American Rescue Plan Act.  The funds would be deposited to the state's unemployment compensation fund for the purpose of paying back outstanding advances received by the state from the federal government and returning the unemployment compensation fund to the statutory floor computed on October 1, 2021.

The bill would take effect immediately if it receives a vote of two-thirds of all members elected to each house as provided by Section 39, Article III, Texas Constitution.  If the bill does not receive the vote necessary for immediate effect, the bill would take effect on the 91st day after the last day of the legislative session.

Methodology

The amounts in the above tables reflect the total amount of appropriations made in the bill.


Local Government Impact

No fiscal implication to units of local government is anticipated.


Source Agencies:
LBB Staff:
JMc, KK, SD