LEGISLATIVE BUDGET BOARD
                              Austin, Texas
                                     
                    FISCAL NOTE, 76th Regular Session
  
                              March 31, 1999
  
  
          TO:  Honorable Teel Bivins, Chair, Senate Committee on
               Education
  
        FROM:  John Keel, Director, Legislative Budget Board
  
       IN RE:  SB1343  by Bivins (Relating to the issuance of bonds to
               finance or refinance certain facilities used by an
               open-enrollment charter school), As Introduced
  
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*  No fiscal implication to the State is anticipated.                    *
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The bill authorizes certain non-profit corporations to issue bonds to
construct facilities for open enrollment charter schools.  The non-profit
corporation must be created by a municipality.

The bill does not change the revenues available to charter schools.  The
bill provides no separate mechanism for servicing the debt authorized by
the bill, so it must be presumed that the revenue bonds issued would be
serviced from other revenues available to charter schools.
  
Local Government Impact
  
No significant fiscal implication to units of local government is
anticipated.

The legislation authorizes certain non-profit corporations created by
cities to issue bonds for facilities construction, but cities or
municipalities are not required to create the corporations, nor does the
bill require such corporations to issue bonds.  Charter schools with
facilities financed pursuant to this legislation would have the
responsibility to service the bonds from whatever revenue is available
to them.
  
  
Source Agencies:   304   Comptroller of Public Accounts
LBB Staff:         JK, CT, UP