LEGISLATIVE BUDGET BOARD
                                   Austin, Texas
         
                                   FISCAL NOTE
                               75th Regular Session
         
                                  May 19, 1997
         
         
      TO: Honorable Bob Bullock            IN RE:  Senate Bill No. 1622, As Passed 2nd House
          Lieutenant Governor                Duncan
          Senate
          Austin, Texas
         
         
         
         
         FROM:  John Keel, Director    
         
In response to your request for a Fiscal Note on SB1622 ( relating 
to the creation of the Lubbock Reese Redevelopment Authority.) 
this office has detemined the following:
         
         Biennial Net Impact to General Revenue Funds by SB1622-As Passed 2nd House
         
No significant fiscal implication to the State is anticipated. 
 Because the bill would not have statewide impact on units of 
local government of the same type or class, no comment from 
this office is required by the rules of the Senate as to its 
probable fiscal implication on units of local government. 
         

         
 
Fiscal Analysis

The bill would create the Lubbock Reese Redevelopment 
Authority to accept title from the United States to all or any 
portion of the real property situated within Reese Air Force 
Base.  The bill would specify the powers and duties of the authority, 
including the power to dispose of property, to borrow money, 
and to exercise economic development authority granted to cities 
in certain chapters of the Local Government Code.  The bill 
would also specify that the property, revenues and income of 
the authority would be exempt from all state and local taxes. 
 The authority would be the successor in interest to the Lubbock 
Reese Redevelopment Authority Corporation, a non-profit corporation, 
and would succeed to all rights and liabilities of the corporation.

 
Methodology 


Because federal property, including military bases, is generally 
exempt from state taxation, no significant fiscal implication 
to the state is anticipated. 

          
   Source:            Agencies:   304   Comptroller of Public Accounts
                                         
                      LBB Staff:   JK ,TH ,JD ,CG