LEGISLATIVE BUDGET BOARD
Austin, Texas
 
FISCAL NOTE, 78TH LEGISLATIVE REGULAR SESSION
 
April 2, 2003

TO:
Honorable Jim Keffer, Chair, House Committee on Economic Development
 
FROM:
John Keel, Director, Legislative Budget Board
 
IN RE:
HB3323 by Keffer, Jim (Relating to the creation of the Texas Enterprise Fund.), As Introduced



Estimated Two-year Net Impact to General Revenue Related Funds for HB3323, As Introduced: an impact of $0 through the biennium ending August 31, 2005.



Fiscal Year Appropriation out of
ECON STABILIZATION FUND
8065
2004 $390,000,000
2005 $0



Fiscal Year Probable Net Positive/(Negative) Impact to General Revenue Related Funds
2004 $0
2005 $0




Fiscal Year Probable Net Positive/(Negative) Impact to General Revenue Related Funds
2004 $0
2005 $0
2006 $0
2007 $0
2008 $0




Fiscal Year Probable Revenue Gain/(Loss) from
ECON STABILIZATION FUND
8065 		Probable Revenue Gain/(Loss) from
New General Revenue Dedicated - Texas Enterprise Fund		 Probable (Cost) from
New General Revenue Dedicated - Texas Enterprise Fund
2004 ($390,000,000) $390,000,000 ($195,000,000)
2005 $0 $0 ($195,000,000)
2006 $0 $0 $0
2007 $0 $0 $0
2008 $0 $0 $0

Fiscal Analysis

The provisions of the bill allow the Governor to make grants from the new Texas Enterprise Fund (TEF). The TEF may be used for economic development, infrastructure development, community development, job training, and business incentives.

Methodology

The provisions of the bill deposit $390,000,000 into the new General Revenue Dedicated - Texas Enterprise Fund from the Economic Stabilization Fund. It is assumed that the funds deposited in the fund would be expended in fiscal year 2004 and fiscal year 2005.

The bill takes effect September 1, 2003.


Local Government Impact

No fiscal implication to units of local government is anticipated.


Source Agencies:
301 Office of the Governor, 480 Texas Department of Economic Development
LBB Staff:
JK, JO, JRO, WP, DE