LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 75th Regular Session April 16, 1997 TO: Honorable Kenneth Armbrister, Chair IN RE: Senate Bill No. 658 Committee on State Affairs By: Cain Senate Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on SB658 ( Relating to the creation of county development districts in certain counties; authorizing the issuance of bonds and the imposition of ad valorem taxes by a county development district.) this office has detemined the following: Biennial Net Impact to General Revenue Funds by SB658-As Introduced No fiscal implication to the State is anticipated. The bill would allow county development districts to impose ad valorem taxes and issue bonds, notes, and other obligations. If not contested within 30 days, an order creating a district would become final and non-appealable. The bill would also provide for compensation to directors in addition to actual expenses incurred in performing their duties, allow for the creation of an office outside the county, and provide a means for dividing the district into two or more districts. The bill would take effect immediately. Any possible revenue gains to county development districts would depend on the number of districts electing to exercise their proposed taxing authority, either through action by the governing body or by election. As of this date, the Comptroller's Office has received documentation creating only one county development district in Kaufman County. Source: Agencies: 304 Comptroller of Public Accounts LBB Staff: JK ,JD ,BR