Honorable Eliot Shapleigh, Chair, Senate Committee on S/C on Base Realignment and Closure
FROM:
John S. O'Brien, Deputy Director, Legislative Budget Board
IN RE:
SB1481 by Shapleigh (Relating to loans for economic development projects to assist defense communities affected by military base closures.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill authorizes the Military Preparedness Commission to use the Texas Military Value Revolving Loan Account to provide loans to defense communities for economic development projects that minimize the negative effects of a defense base reduction on the defense community.The bill also directs the awarding of defense economic assistance grants.
Local Government Impact
The fiscal impact to defense-dependent communities would depend on the funds available for loans or grants, the number of communities that applied, and the number of communities that were awarded loans or grants.