TO: | Honorable Todd Staples, Chair, Senate Committee on Transportation & Homeland Security |
FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
IN RE: | SB322 by Staples (Relating to proceeds from the sale of certain state surplus and salvage personal property.), As Introduced |
Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2006 | ($4,000,000) |
2007 | ($4,000,000) |
2008 | ($4,000,000) |
2009 | ($4,000,000) |
2010 | ($4,000,000) |
Fiscal Year | Probable Revenue Gain/(Loss) from GENERAL REVENUE FUND 1 |
Probable Revenue Gain/(Loss) from STATE HIGHWAY FUND 6 |
---|---|---|
2006 | ($4,000,000) | $4,000,000 |
2007 | ($4,000,000) | $4,000,000 |
2008 | ($4,000,000) | $4,000,000 |
2009 | ($4,000,000) | $4,000,000 |
2010 | ($4,000,000) | $4,000,000 |
The bill would amend Chapter 2175 of the Government Code, relating to the proceeds from the sale of state surplus and salvage property. The proceeds from the sale of surplus and salvage property of the Texas Department of Transportation, the Texas Department of Public Safety, and the State Aircraft Pooling Board would be required to be deposited to the State Highway Fund.
This bill would take effect September 1, 2005.
Under current law, the proceeds from the sale of surplus and salvage property are deposited to credit of the General Revenue Fund with the exception of proceeds from the sale of State Aircraft Pooling Board property, which are deposited to the credit of the board.
Based on the analysis of the Comptroller of Public Accounts, it is assumed the provisions of the bill would result in an annual revenue gain of $4 million to the State Highway Fund and an annual revenue loss of $4 million to the General Revenue Fund beginning in fiscal year 2006.
Source Agencies: | 304 Comptroller of Public Accounts, 405 Department of Public Safety, 601 Department of Transportation
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LBB Staff: | JOB, SR, MW, TG
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