| TO: | Honorable David Swinford, Chair, House Committee on State Affairs |
| FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
| IN RE: | HB1057 by Corte (Relating to the powers and duties of the Veterans' Land Board.), Committee Report 1st House, Substituted |
The bill eliminates the requirement that the Veterans' Land Board (VLB) submit requests for purchases for veterans' homes and cemeteries to the Texas Building and Procurement Commission for approval and delegates all purchasing functions to the VLB. The bill would have no significant fiscal impact because the amount of savings would be minimal compared to current practice.
The bill also modifies the eligibility requirements for the veterans' housing and land loan programs offered through the VLB, providing for greater participation by extending eligibility to veterans with 90 days of service rather than the present requirement of 90 continuous days of service. This change, however, is not expected to have a significant fiscal impact because any additional demands for loans resulting from the eligibility change can be financed within the VLB's existing bond authority for land and housing loans. In addition, the bonds issued to fund the VLB's loan programs are self-supporting, i.e., the bonds are paid off by loan payments received from veterans participating in the program.
The bill would take effect September 1, 2005.
| Source Agencies: | 305 General Land Office and Veterans' Land Board
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| LBB Staff: | JOB, SR, ZS, JF
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