LEGISLATIVE BUDGET BOARD
                          Austin, Texas

                           FISCAL NOTE
                       74th Regular Session

                          April 10, 1995



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






FROM: John Keel, Director

In response to your request for a Fiscal Note on House Bill No.
3079 (relating to the deposit of funds in the Housing Trust Fund
and 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, fees for issuing 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 or
authorize the fees.  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