LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 77th Regular Session May 11, 2001 TO: Honorable Teel Bivins, Chair, Senate Committee on EducationSenateCommittee on Education FROM: John Keel, Director, Legislative Budget Board IN RE: HB2682 by Allen (Relating to the authority of certain municipalities to dedicate tax revenue from certain reinvestment zones.), As Engrossed ************************************************************************** * No fiscal implication to the State is anticipated. * ************************************************************************** The bill would allow certain cities to enter into a new agreement or amend an existing agreement with a school district that is located in whole or in part in a reinvestment zone to dedicate revenue from the tax increment fund to the school district for acquiring, constructing or reconstructing an educational facility located in or outside of the zone. The bill would only apply to cities with populations of less than 120,000 that have territory in three counties. Local Government Impact The cities that have less than 120,000 population and territory in three counties are: Aransas Pass, Fair Oaks Ranch, Grand Prairie, Grapevine, Katy, Lytle, Mansfield, Pearland, Schertz, Seabrook, Selma, and Wylie. The Comptroller's office contacted representatives from the City of Grapevine and the City of Grand Prairie, and both stated that the bill would have no fiscal impact on their city. The bill would only change where the money can be spent. Source Agencies: 304 Comptroller of Public Accounts LBB Staff: JK, CT, DS, DB, SD, BR