LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 74th Regular Session February 14, 1995 TO: Honorable Tom Craddick, Chair IN RE: House Bill No. 735 Committee on Ways & Means By: Craddick House of Representatives Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on House Bill No. 735 (Relating to uses of balances in the inaugural fund; making appropriations.) this office has determined the following: The bill would create the Governor's Endowment Fund and the Lieutenant Governor's Endowment Fund as accounts in the General Revenue Fund. These fund would each receive a portion of the revenue currently on deposit in the Inaugural Fund Account 472. Revenue in the Inaugural Fund Account would divide in the following manner: $100,000 plus the amount necessary to fund obligations of the inaugural committee would remain in the Inaugural Fund Account; the remainder would be transferred to the Governor's Endowment Fund and the Lieutenant Governor's Endowment Fund in equal amounts. Three-member committees would be appointed by the Governor and Lieutenant Governor, respectively, to administer each fund. The bill would appropriate the balances of the Governor's Endowment Fund and the Lieutenant Governor's Endowment Fund to the respective committees for the period ending August 31, 1995. Revenue in the funds could be expended for improvement of state property or for educational, historical or charitable purposes The probable fiscal implication of implementing the provisions of the bill during each of the first five years following passage is estimated as follows: Fiscal Probable Reduction Year in the Amount Available for Certification from the General Revenue Fund 1995 $368,000 1996 0 1997 0 1998 0 1999 0 2000 0 Fiscal Probable Probable Appropriation Appropriation Year Revenue Revenue out of the out of the Gain to Gain to Governor's Lieutenant the the Endowment Governor's Governor's Lieutenant Fund Endowment Endowment Governor's Fund Fund Endowment Fund 1995 $184,000 $184,000 $184,000 $184,000 1996 0 0 0 0 1997 0 0 0 0 1998 0 0 0 0 1999 0 0 0 0 2000 0 0 0 0 No significant fiscal implication to units of local government is anticipated. Source: Comptroller of Public Accounts LBB Staff: JK, RS, DF