LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE
75th Regular Session
April 21, 1997
TO: Honorable Fred M. Bosse, Chair IN RE: House Bill No. 2610
Committee on Land and Resource Management By: Pitts
House
Austin, Texas
FROM: John Keel, Director
In response to your request for a Fiscal Note on HB2610 ( Relating
to the disposition of certain state land used as the site for
the superconducting super collider research facility.) this
office has detemined the following:
Biennial Net Impact to General Revenue Funds by HB2610-As Introduced
Implementing the provisions of the bill would result in a
net negative impact of $(873,000) 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 would allow the General Land Office (GLO) to dedicate
roads on the Superconducting Super Collider Research Facility
(SSC) site to a county if such dedication would enhance the
value to the land. The bill would allow the sale of the SSC
surface estate owned by the state to also convey the state's
interest in the subsurface estate for a fee mutually agreed
to by both parties. The bill would grant a person from whom
the state acquired a SSC surface tract a preference right to
reacquire that tract at fair market value. The bill would transfer
the power and authority to manage, control, market, and dispose
of the SSC property to the GLO effective September 1, 1997.
Methodolgy
According to the GLO, the bill would enhance the possibilities
of disposing of the SSC site. The GLO has requested $873,000
to manage, control, market, and dispose of the SSC property
for fiscal year 1998. GLO has also requested funding to manage
the SSC property in other years; GLO has estimated that sale
of the property would produce sufficient funds to meet agency
needs. Most of the proceeds derived from sale of property would
be used to retire bond debt incurred by the state to construct
and operate the SSC. GLO has recently estimated that disposition
of the SSC real property and assets will result in proceeds
of $15 million.
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 Probable Revenue
Savings/(Cost) Gain/(Loss) from
from General TPFA GO
Revenue Fund Superconducting
Supercollider
Escrow Fund
0001 0781
1998 ($873,000) $0
1998 0 (873,000)
2000 0 (873,000)
2001 0 (873,000)
2002 0 (873,000)
Net Impact on General Revenue Related Funds:
The probable fiscal implication to General Revenue related funds
during each of the first five years is estimated as follows:
Fiscal Year Probable Net Postive/(Negative)
General Revenue Related Funds
Funds
1998 ($873,000)
1999 0
2000 0
2001 0
2002 0
Similar annual fiscal implications would continue as long as
the provisions of the bill are in effect.
No significant fiscal implication to units of local government
is anticipated. However, sale of the SSC land would add revenue
to local governments as the property would be added back to
the local tax base.
Source: Agencies: 305 General Land Office and Veterans' Land Board
LBB Staff: JK ,BB ,JH