LEGISLATIVE BUDGET BOARD
                          Austin, Texas

                           FISCAL NOTE
                       74th Regular Session

                           May 2, 1995



 TO:     Honorable John T. Montford, Chair      IN RE:  House Joint
         Committee on Finance                   Resolution
         Senate                                                No. 73, as
         Austin, Texas                          engrossed
                                                        By: Romo








FROM: John Keel, Director

In response to your request for a Fiscal Note on House Joint
Resolution No. 73 (Proposing a constitutional amendment reducing
the amount of general obligation bonds authorized for the
issuance for undertakings related to a superconducting super
collider research facility.) this office has determined the
following:

The resolution would propose a constitutional amendment reducing
the amount of general obligation bonds authorized for the
Superconducting Super Collider (SSC) research facility.  There
are authorized but unissued general obligation bonds for the SSC
of $250 million. 

The resolution would implement the Comptroller of Public Accounts
Gaining Ground recommendation GG19 which would revoke the
authorization of certain state debt.  There would be no direct
savings to the state as a result of this amendment.  Lowering the
state's bond authorization could eventually lead to an increase
in the state's bond rating and thereby lower borrowing costs in
the future.  As a result, the fiscal implication to the state
cannot be determined.

The cost to the state for publication of the resolution is
$90,000.    




No fiscal implication to units of local government is
anticipated.


 Source:  Comptroller of Public Accounts, Texas Public Finance
Authority, Bond Review Board
          LBB Staff: JK, LP, DF