LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 79TH LEGISLATIVE REGULAR SESSION

March 28, 2005

TO:	Honorable Allan Ritter, Chair, House Committee on Economic Development
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.), As Introduced

No fiscal implication to the State is anticipated.

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 do not constitute debt for any purpose of any constitutional provision or other law that prohibits the state or a political subdivision from incurring debt.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

347 Public Finance Authority, 352 Bond Review Board, 601 Department of Transportation

LBB Staff:

JOB, JRO, MS, SMi