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