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