LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 76th Regular Session
April 5, 1999
TO: Honorable Bill Carter, Chair, House Committee on Urban
Affairs
FROM: John Keel, Director, Legislative Budget Board
IN RE: HB 2351 by Burnam (Relating to funding the housing trust
fund.), Committee Report 1st House, Substituted
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* Estimated Two-year Net Impact to General Revenue Related Funds for *
* HB2351, Committee Report 1st House, Substituted: negative impact *
* of $(38,125,000) 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, Five-Year Impact:
****************************************************
* Fiscal Year Probable Net Positive/(Negative) *
* Impact to General Revenue Related *
* Funds *
* 2000 $(18,875,000) *
* 2001 (19,250,000) *
* 2002 (19,250,000) *
* 2003 (19,250,000) *
* 2004 (19,250,000) *
****************************************************
All Funds, Five-Year Impact:
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*Fiscal Probable Revenue Gain/(Loss) Probable Revenue Gain/(Loss) *
* Year from New - GR Dedicated Housing from General Revenue Fund *
* Trust Fund Auxilary Account 0001 *
* 2000 $18,875,000 $(18,875,000) *
* 2001 19,250,000 (19,250,000) *
* 2002 19,250,000 (19,250,000) *
* 2003 19,250,000 (19,250,000) *
* 2004 19,250,000 (19,250,000) *
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Fiscal Analysis
The bill would amend Chapter 2306 of the Government Code and Chapter 74
of the Property Code by establishing a GR-Dedicated Housing Trust Fund
Auxiliary Account. The account would consist of 25 percent of the
balance of unclaimed property funds that would be transferred on an
annual basis; the remaining balance from the unclaimed property funds
would be credited to the General Revenue Fund. The bill would exempt the
GR-Dedicated Housing Trust Fund Auxiliary Account from Section 403.095
of the Government Code, relating to funds consolidation, and would
prohibit the legislature from appropriating funds from the account before
September 1, 2001, and for purposes other than those described under
Section 2306.202 of the Government Code.
The bill would take effect September 1, 1999.
Methodology
The balance of unclaimed property funds was estimated to be $75,500,000
for fiscal year 2000, and $77,000,000 in the following fiscal years.
The 25 percent amount proposed in the bill to be transferred to the
GR-Dedicated Housing Trust Fund Auxiliary Account was $18,875,000 in
fiscal year 2000, and $19,250,000 in the following years. It is assumed
that transfers required by the bill would occur at the end of fiscal
years.
Local Government Impact
No significant fiscal implication to units of local government is
anticipated.
Source Agencies:
LBB Staff: JK, TL, RT, MW