LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 79TH LEGISLATIVE REGULAR SESSION

May 17, 2005

TO:	Honorable John Carona, Chair, Senate Committee on S/C on Emerging Technologies & Economic Dev.
FROM:	John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:	HB3036 by Deshotel (Relating to the number, terms, and removal of directors of certain development corporations.), As Engrossed

No fiscal implication to the State is anticipated.

The bill would amend the Development Corporation Act of 1979 (the Act) found in Article 5190.6, Vernon's Texas Civil Statutes to change the number of Section 4A directors required from five to at least five. The bill would also authorize a governing body of the city to set the length of term for each 4A director at not more than six years and would allow the governing body to remove a director at any time without cause.

The bill would take effect immediately upon enactment, assuming that it received the requisite two-thirds majority votes in both houses of the Legislature. Otherwise, it would take effect on September 1, 2005.

Local Government Impact

No significant fiscal implication to units of local government is anticipated.

Source Agencies:

304 Comptroller of Public Accounts

LBB Staff:

JOB, JRO, WP, EB