LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 75th Regular Session April 10, 1997 TO: Honorable Robert Junell, Chair IN RE: Senate Bill No. 1706, Committee Report 2nd House, Substituted Committee on Appropriations By: Ratliff House Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on SB1706 ( relating to the funding of passenger rail service by the Texas Department of Transportation) this office has detemined the following: Biennial Net Impact to General Revenue Funds by SB1706-Committee Report 2nd House, Substituted House Committee Substitute for Senate Bill 886 appropriates $5,600,000 to the Department of Transportation for loans to corporations providing passenger rail service in this state. That appropriation is contingent on passage of Senate Bill 1706. FISCAL ANALYSIS The bill would authorize the Texas Transportation Commission to make loans to certain corporations providing passenger rail service in the state. Currently, Amtrak is the only eligible passenger rail corporation in the state. Loans could be granted only if a specific appropriation is made by the Legislature for that purpose. The loans would be made from the General Revenue Fund. The portion of the state highway fund revenues not dedicated by the constitution would serve as collateral for the loans. The bill would require municipalities served by the passenger rail corporation to guarantee repayment with interest of half of any unpaid balances of the loan. LOCAL No fiscal implication to units of local government is anticipated. Source: Agencies: 304 Comptroller of Public Accounts LBB Staff: JK ,RR ,RS