LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 77th Regular Session February 13, 2001 TO: Honorable Clyde Alexander, Chair, House Committee on Transportation FROM: John Keel, Director, Legislative Budget Board IN RE: HJR55 by Alexander (Proposing a constitutional amendment in aid of turnpikes, toll roads, and toll bridges.), As Introduced ************************************************************************** * The cost to the state for publication of the resolution would be * * $80,000 in fiscal year 2002. * * * * Contingent upon the adoption of the amendment and the passage of HB * * 1045, or similar legislation, a revenue loss of $7,250,000 in * * fiscal year 2005 and $8,750,000 in 2006 to State Highway Fund No. * * 006 would be realized. * ************************************************************************** The joint resolution would propose a constitutional amendment to allow the Texas Department of Transportation to spend grant or loan money from any available source for the acquisition, construction, maintenance, or operation of turnpikes, toll roads, and toll bridges and would remove the requirement that any expenditures from State Highway Fund No. 006 be repaid to the fund from tolls or other turnpike revenues. The proposed amendment would be submitted to voters during the election to be held November 6, 2001. Local Government Impact The proposed amendment would allow TxDOT to provide funding that would significantly offset local government costs with the State's participation in the construction of toll facilities and the absence of a repayment obligation. Funding provided through grants would have a significant positive impact on local entities issuing bonds for construction, whereas funding through loans would not. Source Agencies: 601 Texas Department of Transportation, 307 Secretary of State, 304 Comptroller of Public Accounts LBB Staff: JK, JO, MW