LEGISLATIVE BUDGET BOARD
                          Austin, Texas

                           FISCAL NOTE
                       74th Regular Session

                          April 13, 1995



 TO:     Honorable Kenny Marchant               IN RE: Committee Substitute
         Committee on Financial Institutions    for
         House of Representatives                              House Bill
         Austin, Texas                          No. 3079









FROM: John Keel, Director

In response to your request for a Fiscal Note on House Bill No.
3079 (relating to depositing funds in the housing trust fund and
the use of the housing trust fund) this office has determined the
following:

The bill would amend Chapter 2306 of the Government Code to
allow, but not require, that the Housing Trust Fund be placed
with the Texas Treasury Safekeeping Trust Company, and to expand
the allowable sources for Housing Trust Fund revenue.  The bill
would direct the proceeds from issuance of General Obligation
Bonds and investment income to be deposited to the Housing Trust
Fund.  However, the bill does not specifically authorize the
issuance of the bonds.  Actual authorization would be dependent
upon the passage of other legislation. 

The revenue to the Housing Trust Fund would increase, but the
amount of increase and the fiscal implications to the State
cannot be determined.


No fiscal implication to units of local government is
anticipated.


Source:   Department of Housing and Community Affairs
          LBB Staff: JK, PVT, RR