LEGISLATIVE BUDGET BOARD
                              Austin, Texas
                                     
                    FISCAL NOTE, 77th Regular Session
  
                                May 4, 2001
  
  
          TO:  Honorable Teel Bivins, Chair, Senate Committee on
               Education
  
        FROM:  John Keel, Director, Legislative Budget Board
  
       IN RE:  HB2888  by Truitt ((Relating to limitations on the
               issuance of tax-supported bonds by school districts.), As
               Engrossed
  
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*  No significant fiscal implication to the State is anticipated.        *
*                                                                        *
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The bill repeals the current language that imposes a $0.50 issuance test
for bond taxes to support a new bonded debt issue.  In its place, a new
Texas Education Code  45.0031 would be added to set issuance test limits
for school district bond debt taxes.  The current test would essentially
be preserved, but the bill authorizes an alternative test to be based on
projected taxable property value and a $0.45 limitation.
  
Local Government Impact
  
No significant fiscal implication to units of local government is
anticipated.
  
  
Source Agencies:   701   Texas Education Agency, 302   Office of the
                   Attorney General, 304   Comptroller of Public Accounts
LBB Staff:         JK, CT, RN