LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 74th Regular Session April 11, 1995 TO: Honorable Rene O. Oliveira, Chair IN RE: Committee Substitute Committee on Economic Development for House of Representatives House Bill Austin, Texas No. 788 FROM: John Keel, Director In response to your request for a Fiscal Note on House Bill No. 788 (relating to the authority of a municipality to create an industrial development corporation and to levy a sales and use tax to carry out the projects of the corporation) this office has determined the following: The bill would expand the definition of eligible city allow certain municipalities to create an industrial development corporation and to levy a sales and use tax to carry out the projects of the corporation. No significant fiscal implication to the State is anticipated. The fiscal implication to the units of local government cannot be determined because the number of cities that would become eligible and subsequently create an industrial development corporation with the authority to levy sales and use taxes cannot be determined. Source: LBB Staff: JK, SM, RR