LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE
75th Regular Session
May 9, 1997
TO: Honorable Bob Bullock IN RE: Senate Bill No. 1301,
As Passed 2nd House
Lieutenant Governor Harris
Senate
Austin, Texas
FROM: John Keel, Director
In response to your request for a Fiscal Note on SB1301 ( relating
to parking, vehicle traffic, and security in the Capitol Complex.)
this office has detemined the following:
Biennial Net Impact to General Revenue Funds by SB1301-As Passed 2nd House
Implementing the provisions of the bill would result in a net
negative impact of $(4,194,122) 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 provide authority for the installation of parking
meters in the Capitol Complex; it would also designate that
revenues from the meters be deposited in the State Preservation
Board's Capitol Fund. The Department of Public Safety would
be responsible for operation and maintenance of the parking
meters and enforcement of parking violations.
The bill would
authorize the issuance of bonds to finance the construction
of parking garages in the Capitol Complex. The bill would authorize
the State Preservation Board to charge a fee for parking in
a facility designated for visitors. Revenue from the fee would
be credited to the Capitol Fund. If revenue bonds are issued
for construction of the facility, the State Preservation Board
would be required to transfer parking fee revenue to the Texas
Public Finance Authority to pay debt service on not more than
one-half of the amount of bonds issued for the visitor's parking
garage.
Methodolgy
The parking meter installation costs of approximately $329,000
are based on the Department of Public Safety's estimate of 814
parking meters being installed in the Capitol Complex area.
The State Preservation Board expects to initially pay for this
cost from its Capitol Fund. The Department of Public Safety
estimates that annual revenues collected (and deposited in the
Capitol Fund) from the use of the parking meters will total
$1,562,880. The State Preservation Board estimates annual reimbursement
to the Department of Public Safety (General Revenue Fund) for
operation and maintenance of parking meters to be $172,160.
The estimated costs and revenues assume that the bill would
become effective immediately upon enactment.
The Texas Public
Finance Authority estimates the total amount of bond proceeds
needed to finance the construction of the parking garages is
$38.8 million. The estimated debt service on these bonds is
$1.7 million in fiscal year 1998 and $3.5 in fiscal year 1999.
The State Preservation Board estimates that the revenues from
a fee charged for use of the visitor's parking facility will
be $1,276,800 per year, to be credited to the Capitol Fund.
The transfer from the Capitol Fund to the General Revenue Fund
to pay one-half the debt service on only the visitor's parking
garage is approximately $311,567 in fiscal year 1998 and $641,500
in fiscal year 1999. The State Preservation Board estimates
that the cost to operate the visitor's parking garage would
be $270,000 per year.
The probable fiscal implications of implementing the provisions
of the bill during each of the first five years following passage
is estimated as follows:
Six Year Impact:
Fiscal Year Probable Probable Revenue Probable Probable Revenue
Savings/(Cost) Gain/(Loss) from Savings/(Cost) Gain/(Loss) from
from Capitol Capitol Fund - from General General Revenue
Fund - Outside Outside Treasury Revenue Fund Fund
Treasury
NEW-OTH OTHER-OTH 0001 0001
1997 ($329,077) $0 $0 $0
1997 (753,726) 2,839,600 (1,681,550) 311,566
1999 (1,083,660) 2,839,600 (3,465,638) 641,500
2000 (1,086,473) 2,839,600 (3,469,988) 644,312
2001 (1,083,472) 2,839,600 (3,463,950) 641,312
2002 (1,084,660) 2,839,600 (3,470,200) 642,500
Fiscal Year Probable Probable Revenue
Savings/(Cost) Gain/(Loss) from
from General General Revenue
Revenue Fund Fund (Department
(Department of of Public Safety)
Public Safety)
0001 0001
1997 $0 $0
1998 (172,160) 172,160
1999 (172,160) 172,160
2000 (172,160) 172,160
2001 (172,160) 172,160
2002 (172,160) 172,160
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
1997 $0
1998 (1,369,984)
1999 (2,824,138)
2000 (2,825,676)
2001 (2,822,638)
2002 (2,827,700)
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: 809 Preservation Board
405 Department of Public Safety
LBB Staff: JK ,RR ,NT