SRC-AAA S.B. 1741 75(R)   BILL ANALYSIS


Senate Research Center   S.B. 1741
By: Armbrister
Finance
4-13-97
As Filed


DIGEST 

Currently,  the Parks and Wildlife Department (department) has a backlog
of maintenance and repair infrastructure items which must be addressed.
The current bond authority does not allow the department to address
infrastructure repair needs.  This bill would increase the amount of
sporting good sales tax to the capital account from $1 million annually to
$46 million annually and authorizes the department to issue $60 million in
revenue bonds to address infrastructure repair needs.  

PURPOSE

As proposed, S.B. 1741 increases the amount of sporting goods sales tax to
the Parks and Wildlife Department capital account from $1 million to $46
million annually and authorizes the department to issue $60 million in
revenue bonds to address infrastructure repair needs.  

RULEMAKING AUTHORITY

This bill does not grant any additional rulemaking authority to a state
officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1. Amends Section 11.035(b), Parks and Wildlife Code, to require
the Parks and Wildlife Department (department) to deposit to the credit of
the state parks account all revenue, less allowable costs received from
certain sources, including, $1,125,000 per month and 40 percent of the
amount greater than, rather than above, $27 million per year but not
greater than $32 million per year of credits made to the department. 

SECTION 2. Amends Section 11.043, Parks and Wildlife Code, to provide that
the Parks and Wildlife capital account consists of the amount of credits
made to the department, after allocations to certain accounts and proceeds
of revenue bonds issued under Section 13.0045.  Deletes existing text on
bonds issued in the future.  Authorizes proceeds of bonds issued under
Section 13.0045 to be spent on certain projects.  Authorizes the
comptroller, rather than the treasurer, to invest money in the account.
Makes conforming changes.  

SECTION 3. Amends Section 13.004(a), Parks and Wildlife Code, to make
conforming changes. 

SECTION 4. Amends Chapter 13A, Parks and Wildlife Code, by adding Section
13.0045, as follows: 

Sec. 13.0045. REVENUE BONDS FOR PARKS AND WILDLIFE FACILITIES. Sets forth
requirements and procedures for issuing revenue bonds or other obligations
to finance the repair of parks and wildlife facilities for an estimated
project cost not to exceed $60 million. 

SECTION 5. Amends Section 24.003, Parks and Wildlife Code, to make
conforming changes. 

SECTION 6. Amends Section 151.801(c), Tax Code, to delete Subdivision (1)
regarding cigarette taxes.  Deletes text regarding taxes crediting
beginning September 1, 1995.  Prohibits the comptroller from crediting in
excess of $37 million, rather than $32 million, in sporting goods tax
revenue to the department. 

 SECTION 7. Effective date: September 1, 1997.

SECTION 8. Emergency clause.