LEGISLATIVE BUDGET BOARD
                                   Austin, Texas
         
                                   FISCAL NOTE
                               75th Regular Session
         
                                  May 29, 1997
         
         
      TO: Honorable James E. "Pete" Laney            IN RE:  House Bill No. 2948, As Passed 2nd House
          Speaker of the House                Turner, Sylvester
          House of Representatives
          Austin, Texas
         
         
         
         
         FROM:  John Keel, Director    
         
In response to your request for a Fiscal Note on HB2948 ( relating 
to the creation and re-creation of funds and accounts in the 
state treasury, the dedication and rededication of revenue, 
and the exemption of  unappropriated money from use for general 
governmental purposes) this office has detemined the following:
         
         Biennial Net Impact to General Revenue Funds by HB2948-As Passed 2nd House
         
No significant fiscal implication to the State is anticipated. 

         

         
 
The bill would abolish funds, accounts, and revenue dedications 
created by the Seventy-fifth Legislature, Regular Session, unless 
specifically exempted in the bill.  Dedications, funds, and 
accounts created by the Seventy-fifth Legislature that were 
enacted to comply with the constitution or federal requirements 
would be exempt.  Bond funds would also be exempt.

The bill 
exempts various specific accounts, funds, and revenue dedications 
created by the Seventy-fifth Legislature from abolition.

The 
bill would transfer the interest earnings of the Capital Trust 
Fund to the Housing Trust Fund.  Under current law, interest 
earned in the Capitol Trust Fund is deposited to the General 
Revenue Fund.

The bill would prevail over other acts of the 
Seventy-fifth Legislature, Regular Session, that dedicated revenue 
or created a fund or account.    

The bill would allow the 
Comptroller to reduce dedicated accounts balances by the amounts 
by which estimated revenues and un-obligated balances exceeded 
appropriations on August 31, 1999.  Funds outside the State 
Treasury, trust funds, funds created by the constitution or 
a court, and funds for which separate accounting was required 
by federal law would be exempt from this provision.
          
No fiscal implication to units of local government is anticipated.
          
   Source:            Agencies:   304   Comptroller of Public Accounts
                                         
                      LBB Staff:   JK ,RR ,RS