LEGISLATIVE BUDGET BOARD
                              Austin, Texas
                                     
                    FISCAL NOTE, 76th Regular Session
  
                              April 26, 1999
  
  
          TO:  Honorable Bill Ratliff, Chair, Senate Committee on Finance
  
        FROM:  John Keel, Director, Legislative Budget Board
  
       IN RE:  HB1722 by Counts (relating to investment of money in the
               veterans' land fund), As Engrossed
  
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*  No significant fiscal implication to the State is anticipated.        *
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The bill would authorize the Veterans Land Board to purchase its revenue
bonds as an investment for the Veterans Land Fund, Veterans Housing
Assistance Fund, or Veterans Housing Assistance Fund II.  The Veterans
Land Board estimates that having the ability to invest in revenue bonds
issued for the state veterans homes would produce a savings of $150,000
per bond issue (once per biennium) in issuance costs to the Veterans
Land Fund.
  
Local Government Impact
  
No fiscal implication to units of local government is anticipated.
  
  
Source Agencies:   352   Bond Review Board, 305   General Land Office
                   and Veterans' Land Board
LBB Staff:         JK, BB, PE, TT