LEGISLATIVE BUDGET BOARD
                              Austin, Texas
                                     
                    FISCAL NOTE, 77th Regular Session
  
                               May 10, 2001
  
  
          TO:  Honorable Frank Madla, Chair, Senate Committee on
               Intergovernmental Relations
  
        FROM:  John Keel, Director, Legislative Budget Board
  
       IN RE:  HB3383  by Davis, Yvonne (Relating to the exemption from
               ad valorem taxation for certain community housing
               development organizations.), Committee Report 2nd House,
               Substituted
  
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*  No fiscal implication to the State is anticipated.                    *
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The bill would amend Section 11.182 of the Tax Code, relating to
expenditures made by community housing development organizations.

The bill would allow the governing body of a taxing unit to require an
organization receiving a property exemption as a community housing
development organization improving property for low-income and
moderate-income housing, which is not financed by tax exempt bond
financing after January 1, 1997 and before December 31, 2001, to exhibit
that at least 50 percent of the property tax savings be expended on
social, educational, or economic development services for residents of
the property.
 
Since passage of this bill would not affect current or future qualified
exemptions for community housing development organizations, there would
be no fiscal impact to the state or units of local government.
  
Local Government Impact
  
No significant fiscal implication to units of local government is
anticipated.
  
  
Source Agencies:   304   Comptroller of Public Accounts
LBB Staff:         JK, DB, SD, WP, BR