LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 75th Regular Session April 29, 1997 TO: Honorable David Counts, Chair IN RE: Senate Bill No. 26, As Engrossed Committee on Natural Resources By: Galloway,Michael House Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on SB26 ( Relating to the Town Center Improvement District of Montgomery County, Texas; authorizing and granting the authority to issue bonds.) this office has detemined the following: Biennial Net Impact to General Revenue Funds by SB26-As Engrossed No fiscal implication to the State is anticipated. The Town Center Improvement District of Montgomery County could experience increased revenues, if the district imposed a hotel occupancy tax of up to seven percent, as the bill would authorize. This bill could increase costs to a municipality seeking to annex the Town Center Improvement District of Montgomery County, since such a municipality would be required to reimburse the district in the amount of sales taxes the district could no longer collect after annexation, until outstanding bonds backed by the district sales tax were retired. Source: Agencies: 582 Natural Resources Conservation Commission 304 Comptroller of Public Accounts LBB Staff: JK ,BB ,TL