LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 74th Regular Session March 27, 1995 TO: Honorable Kenny Marchant, Chair IN RE: House Bill No. 1851 Committee on Financial Institutions By: Marchant House of Representatives Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on House Bill No. 1851 (relating to issuance of tax and revenue anticipation notes by the Texas Public Finance Authority) this office has determined the following: The bill would transfer the authority to issue tax and revenue anticipation notes from the State Treasurer to the Texas Public Finance Authority (TPFA). The bill would require TPFA to submit to the cash management committee a general revenue cash flow shortfall forecast prepared by the treasurer and based on the Comptroller of Public Accounts's most recent anticipated revenue estimate. The fiscal implication to the State or units of local government cannot be determined. Source: Bond Review Board, Texas Public Finance Authority LBB Staff: JK, LP, RR