LEGISLATIVE BUDGET BOARD
                                   Austin, Texas
         
                                   FISCAL NOTE
                               75th Regular Session
         
                                  May 14, 1997
         
         
      TO: Honorable Paul Sadler, Chair            IN RE:  Senate Joint Resolution
                                                                No. 43, Committee Report 2nd House, Substituted
          Committee on Revenue and Public 
Education Funding                              By: Cain
          House
          Austin, Texas
         
         
         
         
         FROM:  John Keel, Director    
         
In response to your request for a Fiscal Note on SJR43 ( proposing 
a constitutional amendment authorizing the legislature to limit 
increases in value and the frequency of appraisals of residence 
homesteads for  property tax purposes and to provide for the 
transfer to a different residence homestead of the school property 
tax freeze on residence homesteads of the elderly) this office 
has detemined the following:
         
         Biennial Net Impact to General Revenue Funds by SJR43-Committee Report 2nd House, Substituted   FN Revision 1
         
The proposed amendment would, by itself, have no fiscal impact 
on the state or local governments. other than the cost of publication.

The 
cost to the state for publication of the resolution is $71,000.
         

         
 
The resolution would propose a constitutional amendment to allow 
the Legislature, by general law, to
 limit the increase in 
the annual appraised value of residential homesteads and provide 
for the transfer of the over-65 tax freeze  limit.

The proposed 
constitutional amendment would be submitted to voters at an 
election to be held November 4, 1997.
          
   Source:            Agencies:   
                                         
                      LBB Staff:   JK ,RR ,BR