LEGISLATIVE BUDGET BOARD
                          Austin, Texas

                           FISCAL NOTE
                       74th Regular Session

                          March 20, 1995



 TO:     Honorable Ken Marchant, Chair          IN RE:  House Bill No. 1947
         Committee on Financial Institutions            By: Heflin
         House of Representatives
         Austin, Texas






FROM: John Keel, Director

In response to your request for a Fiscal Note on House Bill No.
1947 (relating to the amount of debt a local government may
incur) this office has determined the following:

This bill would establish provisions for an election to limit the
amount of debt a local government could incur.  The bill would
require local officials to submit a debt limit proposal to voters
of the local government.  The debt limit would be stated as a
percentage of the total assessed valuation of taxable property
within the jurisdiction of the local government and could not
exceed any limit or restriction imposed by another statute.  An
established debt limit could be amended under certain
circumstances.


No fiscal implication to the State is anticipated.

The fiscal implication to  units of local government cannot be
determined.


Source:   Bond Review Board, Comptroller of Public Accounts
          LBB Staff: JK, LP, RR