LEGISLATIVE BUDGET BOARD
                                   Austin, Texas
         
                                   FISCAL NOTE
                               75th Regular Session
         
                                  March 6, 1997
         
         
      TO: Honorable Kenny Marchant, Chair            IN RE:  House Bill No. 1077, Committee Report 1st House, Substituted
          Committee on Financial Institutions                              By: Telford
          House
          Austin, Texas
         
         
         
         
         FROM:  John Keel, Director    
         
In response to your request for a Fiscal Note on HB1077 ( Relating 
to the powers and duties of and the continuation of the Texas 
Public Finance Authority.) this office has detemined the following:
         
         Biennial Net Impact to General Revenue Funds by HB1077-Committee Report 1st House, Substituted
         
No significant fiscal implication to the State is anticipated.

Savings 
to the state could result from the consolidation of bond issuance 
due to the potential for lower borrowing and administrative 
costs.   Cost of bond issuance savings to the state could vary 
each fiscal year according to the volume and size of bond issues 
processed by the Texas Public Finance Authority.
         

         
 
          
No fiscal implication to units of local government is anticipated.
          
   Source:            Agencies:   
                                         
                      LBB Staff:   JK ,TH ,ML