Honorable Leticia Van de Putte, Chair, Senate Committee on Veteran Affairs & Military Installations
FROM:
John Keel, Director, Legislative Budget Board
IN RE:
SB1103 by Fraser (Relating to the security provided for revenue bonds issued by the Veterans' Land Board.), As Introduced
No significant fiscal implication to the State is anticipated.
SB 1103 will allow the Veterans' Land Board, of the General Land Office, to use certain receipts in excess of what is required to service the debt on the bonds issued to support the various VLB programs. This bill will allow the Veterans' Homes Program to tap into the same source of funding that currently funds the Veterans' Land, Housing Assistance, and Housing Assistance II Programs. None of the VLB programs are funded by a State General Revenue Appropriation, they are funded by the issuance of bonds which are repayed by the veterans who participate in the various programs.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies:
305 General Land Office and Veterans' Land Board, 352 Bond Review Board