LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 75th Regular Session May 9, 1997 TO: Honorable Kenneth Armbrister, Chair IN RE: House Bill No. 1521, As Engrossed Committee on State Affairs By: Raymond Senate Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on HB1521 ( Relating to notice by the comptroller concerning certain unclaimed property.) this office has detemined the following: Biennial Net Impact to General Revenue Funds by HB1521-As Engrossed Implementing the provisions of the bill would result in a net positive impact of $250,000 to General Revenue Related Funds through the biennium ending August 31, 1999. The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill. Fiscal Analysis The bill amends Section 74.202, Property Code, to increase the threshold to $100 from $50 for publicizing unclaimed property in a newspaper of general circulation. The bill would implement the Texas Performance Review (TPR) recommendation CG 21 in Disturbing the Peace: The Challenge of Change in Texas Government. Methodolgy The Comptroller would no longer be required to publish in a newspaper unclaimed property in amounts less than $100 but more than $50. The estimated savings from this bill are based on a reduction in printing costs. To achieve these savings, the appropriations to the Comptroller's Office would have to be reduced accordingly. The probable fiscal implications of implementing the provisions of the bill during each of the first five years following passage is estimated as follows: Five Year Impact: Fiscal Year Probable Savings/(Cost) from General Revenue Fund 0001 1998 $125,000 1998 125,000 2000 125,000 2001 125,000 2002 125,000 Net Impact on General Revenue Related Funds: Fiscal Year Probable Net Postive/(Negative) General Revenue Related Funds Funds 1998 $125,000 1999 125,000 2000 125,000 2001 125,000 2002 125,000 Similar annual fiscal implications would continue as long as the provisions of the bill are in effect. No fiscal implication to units of local government is anticipated. Source: Agencies: 304 Comptroller of Public Accounts LBB Staff: JK ,JD ,TH