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