LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 77th Regular Session April 19, 2001 TO: Honorable Paul Sadler, Chair, House Committee on Public 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.), Committee Report 1st House, Substituted ************************************************************************** * No significant fiscal implication to the State is anticipated. * * * ************************************************************************** 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