LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 77th Regular Session
March 28, 2001
TO: Honorable David Cain, Chair, Senate Committee on
Administration
FROM: John Keel, Director, Legislative Budget Board
IN RE: SB1623 by Cain (Relating to the sale of Woodlawn by the
State Preservation Board.), As Introduced
**************************************************************************
* Estimated Two-year Net Impact to General Revenue Related Funds for *
* SB1623, As Introduced: impact of $0 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. *
**************************************************************************
General Revenue-Related Funds, Five-Year Impact:
****************************************************
* Fiscal Year Probable Net Positive/(Negative) *
* Impact to General Revenue Related *
* Funds *
* 2002 $0 *
* 2003 0 *
* 2004 0 *
* 2005 0 *
* 2006 0 *
****************************************************
All Funds, Five-Year Impact:
***************************************************************************
*Fiscal Probable Savings/(Cost) from Probable Revenue Gain/(Loss) *
* Year Capitol Renewal Account from Capitol Renewal Account *
* 2002 $(400,000) $5,000,000 *
* 2003 0 0 *
* 2004 0 0 *
* 2005 0 0 *
* 2006 0 0 *
***************************************************************************
Fiscal Analysis
The bill would allow the State Preservation Board the authority to sell
Woodlawn. The General Land Office would transact the sale of this
property in behalf of the State Preservation Board and the proceeds from
the sale would be deposited into a new account, Capitol Renewal Account
for use by the State Preservation Board.
Methodology
The agency has estimated the fair market value of the property to be
$5,000,000 and estimates that an expenditure of $400,000 (8%) would be
required in connection with the sale of the property.
The remaining $4,600,000 could only be used for the purpose of
maintaining and preserving the Capitol, the General Land Office
Building, their contents, and their grounds.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 809 State Preservation Board, 305 General Land
Office, 304 Comptroller of Public Accounts
LBB Staff: JK, SD, GS