LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 75th Regular Session May 20, 1997 TO: Honorable Paul Sadler, Chair IN RE: Senate Bill No. 1873, As Engrossed Committee on Revenue and Public Education Funding By: Bivins House Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on SB1873 ( relating to public school finance, including the abolition of the foundation school fund budget committee) this office has detemined the following: Biennial Net Impact to General Revenue Funds by SB1873-As Engrossed Section 403.302 of the Government Code requires the Comptroller to conduct a property value study to determine the total taxable value for each school district. Total taxable value is an element in the state's school funding formula. Passage of the bill could cause an increase in school district taxable values reported to the Commissioner of Education by the Comptroller. The increase in school district taxable value could result in a decrease in the state cost of public education, based on current funding formulas. No significant fiscal implication to units of local government is anticipated. Source: Agencies: LBB Staff: JK ,RR ,BR