LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 78TH LEGISLATIVE REGULAR SESSION

April 24, 2003

TO:	Honorable Royce West, Chair, Senate Committee on Subcommittee on Higher Education
FROM:	John Keel, Director, Legislative Budget Board
IN RE:	SB1476 by West ( Relating to the nonprofit corporations eligible to issue bonds to finance or purchase guaranteed student loans and authorizing certain nonprofit corporations to refund outstanding student loan bonds.), Committee Report 1st House, Substituted

No fiscal implication to the State is anticipated.
 

The bill would allow the creation of qualified non-profit corporations for the purpose of refunding qualified student loan bonds.  It is not anticipated that these bonds could be considered obligations of the state.  The Texas Public Finance Authority has indicated that the authorized debt would be self-supported debt of non-governmental local corporations.

Local Government Impact

Fiscal impact to cities and nonprofit corporations authorized by the cities would vary depending on the level of revenue bonds issued, but is not anticipated to be significant.

Source Agencies:	347 Public Finance Authority, 352 Bond Review Board
LBB Staff:	JK, CT, PF, MG, DLBa