LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 77th Regular Session
May 2, 2001
TO: Honorable Florence Shapiro, Chair, Senate Committee on
State Affairs
FROM: John Keel, Director, Legislative Budget Board
IN RE: HB3309 by Hochberg (Relating to the development,
funding, and operation of the Southeast Texas
Biotechnology Park.), As Engrossed
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* Estimated Two-year Net Impact to General Revenue Related Funds for *
* HB3309, As Engrossed: positive impact of $2,941,176 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 $0 *
* 2003 2,941,176 *
* 2004 2,941,176 *
* 2005 2,941,176 *
* 2006 2,941,176 *
****************************************************
All Funds, Five-Year Impact:
*****************************************************
* Fiscal Year Probable Revenue Gain/(Loss) from *
* General Revenue Fund *
* 0001 *
* 2002 $0 *
* 2003 2,941,176 *
* 2004 2,941,176 *
* 2005 2,941,176 *
* 2006 2,941,176 *
*****************************************************
Fiscal Analysis
The bill would establish the Southeast Texas Biotechnology Park Coalition
for the purpose of developing, funding, and operating a biotechnology
research and development park in the area around the Texas Medical
Center in Houston, Texas.
Methodology
The bill would allow the park to be developed on state owned land as well
as on land acquired by the state. The bill would also require that
lease revenue from the park be at market rates. It is assumed that the
park would generate lease revenue of $50 million over a seventeen year
period. This lease revenue would begin in the second year of the
biennium and is estimated to be approximately $2.9 million per year.
This analysis assumes that the lease revenue would be deposited to the
General Revenue Fund.
Local Government Impact
No significant fiscal implication to units of local government is
anticipated.
Source Agencies: 720 The University of Texas System
LBB Staff: JK, RB, JO, MG