| TO: | Honorable Teel Bivins, Chair, Senate Committee on Finance |
| FROM: | John Keel, Director, Legislative Budget Board |
| IN RE: | HB28 by McCall (Relating to state fiscal management; making related appropriations.), As Engrossed |
| Fiscal Year | Appropriation out of GENERAL REVENUE FUND 1 |
Appropriation out of TELECOMMUNICATIONS INFRASTRUCTURE FUND 345 |
Appropriation out of TEXAS EMISSIONS REDUCTION PLAN 5071 |
Appropriation out of OVERSIGHT WORKERS' COMP 5016 |
|---|---|---|---|---|
| 2004 | $66,210,034 | $2,086,025 | $3,062,248 | $64,632 |
| 2005 | $0 | $0 | $0 | $0 |
| Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
|---|---|
| 2003 | $0 |
| 2004 | ($66,210,034) |
| 2005 | $0 |
| 2006 | $0 |
| 2007 | $0 |
| Fiscal Year | Probable (Cost) from GENERAL REVENUE FUND 1 |
Probable (Cost) from TELECOMMUNICATIONS INFRASTRUCTURE FUND 345 |
Probable (Cost) from TEXAS EMISSIONS REDUCTION PLAN 5071 |
Probable (Cost) from OVERSIGHT WORKERS' COMP 5016 |
|---|---|---|---|---|
| 2003 | $0 | $0 | $0 | $0 |
| 2004 | ($66,210,034) | ($2,086,025) | ($3,062,248) | ($64,632) |
| 2005 | $0 | $0 | $0 | $0 |
| 2006 | $0 | $0 | $0 | $0 |
| 2007 | $0 | $0 | $0 | $0 |
The bill would appropriate to the Comptroller of Public Accounts, from the General Revenue Fund, the amount necessary to return any available cash that was transferred to the General Revenue Fund from a fund outside the State Treasury, and to maintain the equity of the fund from which the transfer of available cash was made. The bill would limit the appropriation for paying interest on the transferred funds to $5 million and would require that repayment of transferred revenue be made within fourteen days of the date the transfer occurred.
The bill would also appropriate the Comptroller of Public Accounts an amount equal to the amount of appropriations from General Revenue and General Revenue-Dedicated accounts vetoed by the governor in House Bill 1, Seventy-eighth Legislature, Regular Session. The bill would amend Article IX, Section 11.28 (a) of House Bill 1 to remove the reference to implementation of Article IX, Section 11.15, Contingency Appropriation Reduction and Contingency Appropriation, and add language to make the funds appropriated as currently directed by the governor and Legislative Budget Board under Chapter 317 Government Code.
The bill would add a provision affecting the 2002 property value study to provide for state values to be used in situations where the local value is determined to be invalid and the local value exceeds the state value. The amendment would also repeal Section 403.302(m), Government Code as added by the Seventy-eighth Legislature, Regular Session which provided for redistribution of state aid for 2003-2004 lost due to recognition of higher local values for the 2002 property value study.
The bill would take effect immediately upon enactment, assuming that it received the requisite two-thirds majority votes in both houses of the Legislature.
For purposes of this estimate, it was assumed that no borrowing from outside the treasury would be necessary in the 2004-05 biennium. The provision related to the property value study and redistribution of Foundation School aid among districts would have no net fiscal impact on the state.
| Source Agencies: | 304 Comptroller of Public Accounts, 701 Central Education Agency
|
| LBB Staff: | JK, JO, WP, SD, EB, RS
|