LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 74th Regular Session March 30, 1995 TO: Honorable Kenny Marchant, Chair IN RE: Committee Substitute Committee on Financial Institutions for House House of Representatives Bill No. 1013 Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on House Bill No. 1013 (relating to the issuance of obligations by the Texas Public Finance Authority) this office has determined the following: The bill would authorize the Texas Public Finance Authority (TPFA) to issue bonds on behalf of all institutions of higher education authorized to issue bonds under Section 17, Article VII, Texas Constitution, excluding components of the University of Texas System and the Texas A&M University System. The bill would authorize TPFA to issue bonds on behalf of the Higher Education Coordinating Board, the Texas Agricultural Finance Authority and the Texas Department of Commerce. The bill would also require that TPFA make a good faith effort to include women- owned and minority-owned businesses in at least 20 percent of the total dollar value of bond obligations issued each fiscal year. It is anticipated that TPFA would incur costs of approximately $90,000 per year. These costs would be funded from amounts set aside from bond proceeds. No fiscal implication to units of local government is anticipated. Source: Comptroller of Public Accounts, Bond Review Board, Texas Public Finance Authority LBB Staff: JK, LP, RR