| TO: | Honorable Teel Bivins, Chair, Senate Committee on Finance |
| FROM: | John Keel, Director, Legislative Budget Board |
| IN RE: | HB3378 by Hope (Relating to granting statutory authority to certain governmental entities to reduce certain expenditures and to the operation of certain funds.), As Engrossed |
Estimated Two-year Net Impact to General Revenue Related Funds for Committee Substitute for HB 3318: a direct positive impact of $80,311,000 on the amount available for certification from the General Revenue Fund in the biennium ending August 31, 2005.
The bill would re-create the System Benefit Fund and the Subsequent Injury Fund as dedicated accounts in the General Revenue Fund. (The System Benefit Fund is currently a trust fund, and the Subsequent Injury Fund is currently a special fund outside the General Revenue Fund.) Making these funds accounts in the General Revenue Fund would increase the amount available for certification from the General Revenue Fund in the 2004-05 biennium.
Making the System Benefit Fund a dedicated account in the General Revenue Fund would increase the amount available for certification from the General Revenue Fund in the 2004-05 biennium by $45,866,000. Making the Subsequent Injury Account a dedicated account in the General Revenue Fund would increase the amount available for certification from the General Revenue Fund in the 2004-05 biennium by $34,445,000.
Additional certification gains would depend on the level of appropriation from these two accounts. For the purpose of illustration, Conference Committee actions, to date, in House Bill 1, the General Appropriations Act, relating to the System Benefit Fund would yield an additional $140 million available for certification from the General Revenue Fund in the 2004-05 biennium.
This same gain is also reflected in the funds consolidation bill, HB 3318.
| Source Agencies: | 304 Comptroller of Public Accounts, 453 Workers' Compensation Commission
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| LBB Staff: | JK, WP, SD, JW
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