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LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION
March 31, 2021
TO:
Honorable Angie Chen Button, Chair, House Committee on International Relations & Economic Development
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
HB3271 by Ordaz Perez (Relating to establishing a program to assist micro-businesses by increasing access to capital.), As Introduced
The fiscal implications of the bill cannot be determined at this time due to a lack of detail regarding the administration and funding of the program that would be established by the bill.
The bill would amend the Government Code to establish a program administered by a community development financial institution to assist micro-businesses by increasing access to capital.
The bill would require the program to be funded by direct appropriation, but according to the Comptroller of Public Accounts (CPA), direct appropriation to a non-state government entity, as in the case of a community development financial institution, is not allowed; any appropriation would have to be to a state agency. The CPA further notes that the bill appears to be missing provisions that would establish the program and provide for the selection of an administering institution.
The bill would not make an appropriation, but could establish the basis for an appropriation.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies:
300 Trusteed Programs - Gov, 304 Comptroller of Public Accounts, 451 Department of Banking