LEGISLATIVE BUDGET BOARD
                              Austin, Texas
                                     
                    FISCAL NOTE, 77th Regular Session
  
                               May 17, 2001
  
  
          TO:  Honorable Bill G. Carter, Chair, House Committee on Urban
               Affairs
  
        FROM:  John Keel, Director, Legislative Budget Board
  
       IN RE:  SJR50  by Lucio (Proposing a constitutional amendment
               providing for the issuance of bonds to augment funds for
               low and very low income housing.), Committee Report 2nd
               House, Substituted
  
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*  No 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 propose a constitutional amendment to authorize the
Texas Department of Housing and Community Affairs to issue bonds.  The
resolution would establish requirements and guidelines for annual debt
service on specific bonds and would appropriate an amount each fiscal
year from eligible revenue sufficient to pay any outstanding principal,
interest, and bond-related costs eligible for reimbursement. Costs
related to the enactment of the resolution are provided in the cost
estimate for the enabling legislation.

The proposed amendment would be submitted to voters during the election
to be held November 6, 2001.
  
Local Government Impact
  
No significant fiscal implication to units of local government is
anticipated.
  
  
Source Agencies:   352   Texas Bond Review Board, 304   Comptroller of
                   Public Accounts
LBB Staff:         JK, DB