LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 77th Regular Session
April 5, 2001
TO: Honorable Robert Junell, Chair, House Committee on
Appropriations
FROM: John Keel, Director, Legislative Budget Board
IN RE: HB515 by Wise (Relating to establishing a permanent fund
for certain veterans' care purposes.), As Introduced
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* Estimated Two-year Net Impact to General Revenue Related Funds for *
* HB515, As Introduced: negative impact of $(150,000,000) through *
* the biennium ending August 31, 2003. *
* *
* 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 *
* 2002 $(150,000,000) *
* 2003 0 *
* 2004 0 *
* 2005 0 *
* 2006 0 *
****************************************************
All Funds, Five-Year Impact:
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*Fiscal Probable Savings/(Cost) from Probable Revenue Gain/(Loss) *
* Year General Revenue Fund from Permanent Fund for *
* 0001 Veterans' Care *
* 2002 $(150,000,000) $150,000,000 *
* 2003 0 0 *
* 2004 0 0 *
* 2005 0 0 *
* 2006 0 0 *
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Fiscal Analysis
The bill would amend Chapter 403 of the Government Code to create the
Permanent Fund for Veterans' Care (PFVC). The PFVC would be a special
fund in the State Treasury outside the General Revenue Fund. The PFVC
would be composed of money transferred to the fund at the direction of
the legislature, gifts and grants contributed to the fund, and investment
earnings. Available earnings from the fund could be appropriated for
veterans' financial assistance programs, veterans' cemeteries, and
veterans' health care needs.
The bill takes effect September 1, 2001.
Methodology
The bill would require the Comptroller to transfer $150 million from the
General Revenue Fund to the Permanent Fund for Veterans' Care upon the
effective date of the Act.
Local Government Impact
The bill would generate revenue for local units of government. The
amount of revenue generated would be based on the scope of a particular
project and the grant application guidelines set forth by the
commission.
Source Agencies: 305 General Land Office, 304 Comptroller of
Public Accounts, 403 Texas Veterans Commission
LBB Staff: JK, SD, JC, DW