LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE
75th Regular Session
March 25, 1997
TO: Honorable Rene Oliveira, Chair IN RE: House Bill No. 2500
Committee on Economic Development By: Oliveira
House
Austin, Texas
FROM: John Keel, Director
In response to your request for a Fiscal Note on HB2500 ( Relating
to state agency loan and loan guarantee programs, the creation,
administration, and operation of the Texas Economic Development
Agency to administer state agency loan and loan guarantee programs
and to engage in capital formation initiatives to further the
state's economic and agricultural development goals, and to
the abolition of the Texas Department of Commerce and the Texas
Agricultural Finance Authority.) this office has detemined the
following:
Biennial Net Impact to General Revenue Funds by HB2500-As Introduced
No significant fiscal implication to the State is anticipated.
This bill would abolish the Department of Commerce and the Agricultural
Finance Authority and create a the Texas Economic Development
Agency. The bill would combine the staff of the two abolished
agencies to form the new agency. In addition, the bill would
transfer program staff and funding involved in economic development
activity from several different agencies to the new agency.
The net impact of this transfer with have a $0 fiscal impact
on the state.
Source: Agencies: 305 General Land Office and Veterans' Land Board
451 Department of Banking
308 State Auditor's Office
551 Department of Agriculture
332 Department of Housing and Community Affairs
802 Parks and Wildlife Department
347 Texas Public Finance Authority
465 Department of Commerce
601 Department of Transportation
304 Comptroller of Public Accounts
LBB Staff: JK ,TH ,CG