LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 75th Regular Session April 23, 1997 TO: Honorable Eddie Lucio, Jr., Chair IN RE: Senate Bill No. 1365 Committee on Intergovernmental Relations By: Barrientos Senate Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on SB1365 ( Relating to purposes and powers of the Texas State Affordable Housing Corporation.) this office has detemined the following: Biennial Net Impact to General Revenue Funds by SB1365-As Introduced No fiscal implication to the State is anticipated. This bill amends Subchapter Y, Chapter 2306 of the Government Code by expanding the responsibility of the Texas State Affordable Housing Corporation (TSAHC), a non-profit corporation, to include the provision of affordable housing. The TSAHC is authorized to engage in mortgage banking and the acquisition and sale of real and personal property. The corporation would also be allowed to issue revenue bonds. Debt service costs related to the issuance of these bonds would be offset by corresponding revenue from the bond operations. 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