TO: | Honorable Rodney Ellis, Chair, Senate Committee on Government Organization |
FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
IN RE: | HB2025 by Hilderbran (Relating to the transfer of jurisdiction over the National Museum of the Pacific War and other historical sites from the Parks and Wildlife Department to the Texas Historical Commission.), As Engrossed |
Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2006 | ($326,894) |
2007 | ($1,109,749) |
2008 | ($1,170,792) |
2009 | ($1,173,643) |
2010 | ($1,174,305) |
Fiscal Year | Probable Revenue (Loss) from STATE PARKS ACCT 64 |
Probable Savings from STATE PARKS ACCT 64 |
Probable (Cost) from GENERAL REVENUE FUND 1 |
Probable Revenue Gain from New General Revenue Dedicated |
---|---|---|---|---|
2006 | ($346,000) | $672,894 | ($326,894) | $346,000 |
2007 | ($416,000) | $801,599 | ($1,109,749) | $416,000 |
2008 | ($416,000) | $803,292 | ($1,170,792) | $416,000 |
2009 | ($416,000) | $802,344 | ($1,173,643) | $416,000 |
2010 | ($416,000) | $805,256 | ($1,174,305) | $416,000 |
Fiscal Year | Probable (Cost) from New General Revenue Dedicated |
Probable (Cost) from BOND PROCEEDS-REV BONDS 781 |
---|---|---|
2006 | ($672,864) | ($9,000,000) |
2007 | ($1,525,749) | $0 |
2008 | ($1,586,792) | $0 |
2009 | ($1,589,643) | $0 |
2010 | ($1,590,305) | $0 |
This analysis assumes the transfer of costs associated with 18 FTEs, operations, and travel related to the National Museum of the Pacific War (formerly called the Fleet Admiral Chester W. Nimitz Memorial Naval Museum) from the Texas Parks and Wildlife Department and the Texas Historical Commission. The revenue transfer is reflected as a probable loss of revenue from State Parks Account No. 64 and a probable revenue gain to the new General Revenue-Dedicated account. The transfer of costs are reflected as a probable savings to State Parks Account No. 64 and a probable cost to the new General Revenue-Dedicated account. The estimated cost to the new General Revenue-Dedicated account also includes the debt service on Revenue Bond proceeds issued prior to fiscal year 2006 and new debt service paid annually (beginning in fiscal year 2007) on $9 million in Revenue Bond poceeds that this analysis assumes will be issued in their entirety in fiscal year 2006.
The estimated cost to the General Revenue Fund reflects the transfer of funds out the General Revenue Fund to the new General Revenue-Dedicated account and accounts for the difference between the estimated revenue gain and cost to the new General Revenue-Dedicated account.
There are $750,000 in unissued General Obligation Bond proceeds that would be transferred to the Historical Commission from the Texas Parks and Wildlife Department if they are appropriated. The result would be an additional cost of $154,521 to the General Revenue Fund for debt service payments.
This analysis assumes that bill takes effect September 1, 2005. The cost estimate for the first year assumes the transfer of jurisdication over the Nimitz museum takes effect November 1, 2005. If the bill were to take effect immediately, no significant costs or gain is anticipated.
Source Agencies: | 802 Parks and Wildlife Department, 304 Comptroller of Public Accounts, 808 Historical Commission
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LBB Staff: | JOB, LB, WK, TB, NR, MS
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