LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 76th Regular Session March 19, 1999 TO: Honorable Bill Carter, Chair, House Committee on Urban Affairs FROM: John Keel, Director, Legislative Budget Board IN RE: HB 313 by Giddings (Relating to the creation and powers of a neighborhood empowerment zone.), Committee Report 1st House, Substituted ************************************************************************** * No significant fiscal implication to the State is anticipated. * ************************************************************************** Local Government Impact The bill could result in decreased revenues to municipalities which would choose to establish neighborhood empowerment zones, if municipal sales tax rebates or abatements would be offered on properties currently generating tax revenues. Since waivers, refunds, or abatements could not be granted for longer than a ten year period, a municipality would be expected to recover lost revenues within the 10-year period. Source Agencies: LBB Staff: JK, TL