LEGISLATIVE BUDGET BOARD
                              Austin, Texas
                                     
                    FISCAL NOTE, 77th Regular Session
  
                              April 2, 2001
  
  
          TO:  Honorable Clyde Alexander, Chair, House Committee on
               Transportation
  
        FROM:  John Keel, Director, Legislative Budget Board
  
       IN RE:  SJR16  by Shapiro (Proposing a constitutional amendment
               creating the Texas Mobility Fund and authorizing the
               issuance of obligations for financing the construction,
               reconstruction, acquisition, and expansion of state
               highways and other mobility projects.), As Engrossed
  
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*  No significant fiscal implication to the State is anticipated,        *
*  other than the cost of publication.                                   *
*                                                                        *
*  The cost to the state for publication of the resolution is $80,000.   *
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The resolution would amend the Texas Constitution to create the Texas
Mobility Fund as a revolving fund with the Comptroller for specific
purposes.  The resolution would authorize the Legislature to dedicate
specific sources, portions, or amounts of revenue, including taxes, and
other money of the state to the fund.  The resolution would authorize the
dedication of the portion of revenue received from motor vehicle
registration fees and taxes on motor fuels and lubricants that result
from cost payments from other state funds to which those revenues are
dedicated.  The resolution would require the deposit of dedicated
revenues into the fund upon receipt by the state and would appropriate
the funds for use under law without further appropriation from the state.
The resolution would also establish certain procedures and requirements
for the reduction or repeal of dedicated funds pledged to the payment of
outstanding obligations or related credit agreements.  The resolution
would allow the Legislature to enact law authorizing the Transportation
Commission to guarantee the payment of any obligations and credit
agreements issued and executed by the commission by pledging the full
faith and credit of the state to that payment if dedicated revenue is
insufficient for that purpose.

The proposed constitutional amendment would take effect if approved by
voters on November 6, 2001.
  
Local Government Impact
  
No fiscal implication to units of local government is anticipated.
  
  
Source Agencies:   352   Texas Bond Review Board, 307   Secretary of
                   State, 302   Office of the Attorney General
LBB Staff:         JK, SD, RB, MW