LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 78TH LEGISLATURE 2nd CALLED SESSION - 2003

July 29, 2003

TO:	Honorable David Swinford, Chair, House Committee on Government Reform
FROM:	John Keel, Director, Legislative Budget Board
IN RE:	HB4 by Swinford (Relating to unclaimed property.), As Introduced

Estimated Two-year Net Impact to General Revenue Related Funds for HB4, As Introduced: a positive impact of $6,500,000 through the biennium ending August 31, 2005.

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
2004	$0
2005	$6,500,000
2006	$0
2007	$0
2008	$0

All Funds, Five-Year Impact:

Fiscal Year	Probable Revenue Gain from GENERAL REVENUE FUND 1
2004	$0
2005	$6,500,000
2006	$0
2007	$0
2008	$0

Fiscal Analysis

This bill would define the period after which unclaimed wages would become abandoned for the purposes of becoming state-claimed unclaimed property.

Methodology

The change in dates after which unclaimed wages would become abandoned for the purposes of becoming state-claimed unclaimed property is estimated to result in a general revenue gain of approximately $6,500,000 in fiscal year 2005.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

LBB Staff:

JK, SD, WP, DLBe