LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 79TH LEGISLATIVE REGULAR SESSION

April 19, 2005

TO:	Honorable Helen Giddings, Chair, House Committee on Business & Industry
FROM:	John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:	SB446 by Carona (Relating to the reduction in value or expiration of a stored value card.), As Engrossed

Estimated Two-year Net Impact to General Revenue Related Funds for SB446, As Engrossed: a negative impact of ($40,000) through the biennium ending August 31, 2007.

The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill.

General Revenue-Related Funds, Five-Year Impact:

Fiscal Year	Probable Net Positive/(Negative) Impact to General Revenue Related Funds
2006	($20,000)
2007	($20,000)
2008	($20,000)
2009	$20,000,000
2010	$30,000,000

All Funds, Five-Year Impact:

Fiscal Year	Probable Revenue Gain/(Loss) from GENERAL REVENUE FUND 1	Probable Savings/(Cost) from GENERAL REVENUE FUND 1
2006	$0	($20,000)
2007	$0	($20,000)
2008	$0	($20,000)
2009	$20,000,000	$0
2010	$30,000,000	$0

Fiscal Analysis

The bill would require the Comptroller of Public Accounts (CPA) to transfer five percent of money collected from unclaimed stored value cards to the Higher Education Coordinating Board for the purpose of making grants.

The bill would set the address of the apparent owner of a stored value card as the address of the CPA in the absence of an address record.

The bill would take effect September 1, 2005.

Methodology

Based on information from the Comptroller of Public Accounts (CPA), it is assumed that $20,000 in General Revenue each year in fiscal years 2006-08 would be transferred to the Higher Education Coordinating Board for the purpose of making grants and that setting the CPA's address as the address of the apparent owner of certain stored value cards would increase General Revenue by $20 million in fiscal year 2009 and $30 million in fiscal year 2010.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

304 Comptroller of Public Accounts

LBB Staff:

JOB, JRO, MW, RB