LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 75th Regular Session May 5, 1997 TO: Honorable Fred Hill, Chair IN RE: House Bill No. 3531, Committee Report 1st House, Substituted Committee on Urban Affairs By: Ehrhardt House Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on HB3531 ( Relating to the uses for the Texas capital trust fund and the funding of and the uses for the housing trust fund.) this office has detemined the following: Biennial Net Impact to General Revenue Funds by HB3531-Committee Report 1st House, Substituted FN Revision 1 Implementing the provisions of the bill would result in a net impact of $0 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 This bill would transfer the funds from the Texas Capital Trust Fund No. 0543 to the Housing Trust Fund. The transfer would occur at the end of each fiscal year and include any unappropriated or unencumbered balance in the fund. This bill would take effect September 1, 1997. Methodolgy The estimated loss is based on expected fund balances in Fund 0543 established by the Comptroller's office. 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 Revenue Probable Revenue Gain/(Loss) from Gain/(Loss) from Texas Capitol Housing Trust Trust Account/ Fund in the GR-Dedicated Treasury Safekeeping Trust Company 0543 OTHER-OTH 1998 ($3,329,000) $3,329,000 1998 (778,000) 778,000 2000 (778,000) 778,000 2001 (778,000) 778,000 2002 (778,000) 778,000 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 $0 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 fiscal implication to units of local government is anticipated. Source: Agencies: 332 Department of Housing and Community Affairs 304 Comptroller of Public Accounts LBB Staff: JK ,TL ,RA