LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 76th Regular Session
April 20, 1999
TO: Honorable Clyde Alexander, Chair, House Committee on
Transportation
FROM: John Keel, Director, Legislative Budget Board
IN RE: HB2311 by Cuellar (Relating to funds maintained by and
for the Texas Turnpike Authority Division of the Texas
Department of Transportation.), As Introduced
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* Estimated Two-year Net Impact to General Revenue Related Funds for *
* HB2311, As Introduced: negative impact of $(5,205,000) through *
* the biennium ending August 31, 2001. *
* *
* The bill would make no appropriation but could provide the legal *
* basis for an appropriation of funds to implement the provisions of *
* the bill. *
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General Revenue-Related Funds, Six-Year Impact:
****************************************************
* Fiscal Year Probable Net Positive/(Negative) *
* Impact to General Revenue Related *
* Funds *
* 1999 $(5,205,000) *
* 2000 0 *
* 2001 0 *
* 2002 0 *
* 2003 0 *
* 2004 0 *
****************************************************
All Funds, Six-Year Impact:
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*Fiscal Probable Revenue Gain/(Loss) Probable Revenue Gain/(Loss) *
* Year from General Revenue Fund from New - Other *
* 0001 *
* 1999 $(5,205,000) $5,205,000 *
* 2000 0 0 *
* 2001 0 0 *
* 2002 0 0 *
* 2003 0 0 *
* 2004 0 0 *
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Fiscal Analysis
The bill would allow the Texas Turnpike Authority (authority) to maintain
in the State Treasury, with the Comptroller in trust, the authority's
Feasibility Study Fund and the Turnpike Project Revolving Fund.
Methodology
The Comptroller's office stated the Feasibility Study Fund and the
Turnpike Project Revolving Fund are deposited in the GR-Account 5038
Texas Department of Transportation Turnpike Authority. The bill could
grant the authority the discretion to keep the trust funds either in
local accounts or as separate funds in the State Treasury with the
Comptroller in trust.
Pursuant to Senate Bill 370, 75th Legislature, GR-Account 5038 is
scheduled to receive on August 31, 1999 a final payment of $4,920,000
plus accumulated interest estimated at $285,000. This represents the
third of three equal pursuant to the abolition of the Texas Turnpike
Authority. The bill would result in a one-time loss to GR-Account 5038
for the payment of $5,205,000 scheduled to be deposited August 31, 1999.
The newly-created funds, whether held in the State Treasury or in local
accounts would see a corresponding gain.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 601 Department of Transportation, 304 Comptroller
of Public Accounts
LBB Staff: JK, PE, ML