LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 78TH LEGISLATIVE REGULAR SESSION

April 22, 2003

TO:	Honorable Jim Keffer, Chair, House Committee on Economic Development
FROM:	John Keel, Director, Legislative Budget Board
IN RE:	HB2919 by Christian (Relating to the creation and operation of a Texas Certified Retirement Community Program.), As Introduced

No significant fiscal implication to the State is anticipated.

The provisions of the bill require that after appropriate research has been conducted, the Texas Department of Economic Development (TDED) would be required to implement the new Texas Certified Retirement Community Program in which retirees and potential retirees are encouraged to make their homes in Texas communities that have met the criteria for certification by TDED as a Texas Certified Community.

 

Based on the analysis of TDED, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.

 

The provisions of the bill require the program to be established not later than September 1, 2004.

 

The effective date of the bill is September 1, 2003.

Local Government Impact

No significant fiscal implication to units of local government is anticipated.  Local political subdivisions that wished to participate in the program would incur costs of at least $10,000 per fiscal year to support a sponsoring organization. There may also be costs to organize a general retiree attraction committee and to communicate with the TDED, but these costs are not expected to have a significant impact on the budgets of participating local entities.

Source Agencies:	480 Texas Department of Economic Development
LBB Staff:	JK, JRO, RT, DE, KG