LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 74th Regular Session February 24, 1995 TO: Honorable Rob Junell, Chair IN RE: Senate Bill No. 4, Committee on Appropriations as engrossed House of Representatives By: Montford Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on Senate Bill No. 4 (Relating to the issuance of general obligation bonds for projects relating to corrections institutions and to an emergency appropriation to the Texas Department of Criminal Justice for acquiring, constructing, and equipping corrections institutions.) this office has determined the following: The bill would require the Texas Public Finance Authority to issue $236,400,000 in general obligation bonds as authorized under Section 49-h, Article III, Texas Constitution . The bill would also make an emergency appropriation to the Texas Department of Criminal Justice in the amount of $236,400,000 from the bond proceeds for the purpose of acquiring, constructing, or equipping new correctional institutions. Current 1996-97 Legislative Budget Board Staff recommendations include estimated debt service amounts included below. The probable fiscal implication of implementing the provisions of the bill during each of the first six years following passage is estimated as follows: Fiscal Appropriation to Probable Debt Change in Year the Department of Service Cost Out Number of State Criminal Justice of the General Employees from out of General Revenue Fund No. FY 1995 Obligation Bond 001 Proceeds 1995 $236,400,000 $5,706,181 .0 1996 0 19,243,650 .0 1997 0 20,026,072 .0 1998 0 20,739,000 .0 1999 0 20,645,200 .0 2000 0 20,555,600 .0 Similar annual fiscal implications would continue for 20 years until the bonds are retired. No fiscal implication to units of local government is anticipated. Source: Comptroller of Public Accounts, Texas Public Finance Authority LBB Staff: JK, BP, DF