LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE
75th Regular Session
April 30, 1997
TO: Honorable Tony J. Goolsby, Chair IN RE: Senate Bill No. 1301, Committee Report 2nd House, Substituted
Committee on House Administration By: Harris
House
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-Committee Report 2nd House, Substituted
Implementing the provisions of the bill would result in a net
negative impact of $(2,796,019) 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 equally divided between the State
Preservation Board (Capitol Fund) and Department of Public Safety
(State Parking Fund 125), after the Capitol Fund is reimbursed
for the cost of the installation.
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, to be reimbursed in full by the
first revenues collected from the meters. The Department of
Public Safety estimates that annual revenues collected from
the use of the parking meters will total $1,562,880. 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 Revenue Probable
Savings/(Cost) Gain/(Loss) from Gain/(Loss) from Savings/(Cost)
from Capitol New - General Capitol Fund - from General
Fund - Outside Revenue Related Outside Treasury Revenue Fund
Treasury - State Parking
Fund 125
OUTSIDE NEW-GR OUTSIDE 0001
1997 ($329,078) $0 $0 $0
1997 (270,000) 616,901 2,222,779 (1,681,551)
1999 (270,000) 781,440 2,058,240 (3,465,875)
2000 (270,000) 781,440 2,058,240 (3,469,987)
2001 (270,000) 781,440 2,058,240 (3,464,949)
2002 (270,000) 781,440 2,058,240 (3,470,199)
Fiscal Year Probable Revenue Probable Revenue
Gain/(Loss) from Gain/(Loss) from
Capitol Fund - General Revenue
Outside Treasury Fund
OUTSIDE 0001
1997 $0 $0
1998 (311,566) 311,566
1999 (641,500) 641,500
2000 (644,312) 644,312
2001 (641,312) 641,312
2002 (642,500) 642,500
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 (753,084)
1999 (2,042,935)
2000 (2,044,235)
2001 (2,042,197)
2002 (2,046,259)
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
303 General Services Commission
LBB Staff: JK ,RR ,DM