Honorable David Dewhurst , Lieutenant Governor, Senate Honorable Tom Craddick, Speaker of the House, House of Representatives
FROM:
John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:
HJR80 by Krusee (Proposing a constitutional amendment clarifying that certain economic development programs do not constitute a debt. ), Conference Committee Report
No significant fiscal implication to the State is anticipated, other than the cost of publication.
The cost to the state for publication of the resolution is $66,497.
HJR 80 amends Section 52-a, Article III of the Texas Constitution to clarify that programs, loans, or grants made for the purposes of economic development or the development or expansion of transportation or commerce are not secured by a pledge of ad valorem taxes or financed by the issuance of any bonds or other obligations of the political subdivision payable from ad valorem taxes.
Local Government Impact
No fiscal implication to units of local government is anticipated.