LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 80TH LEGISLATIVE REGULAR SESSION

May 17, 2007

TO:	Honorable Royce West, Chair, Senate Committee on Intergovernmental Relations
FROM:	John S. O'Brien, Director, Legislative Budget Board
IN RE:	HB1637 by Menendez (Relating to the operation and administration of the Texas First-Time Homebuyer Program by the Texas Department of Housing and Community Affairs and to certain down payment assistance under that program.), As Engrossed

No significant fiscal implication to the State is anticipated.

The bill would amend the Government Code to provide the Texas Department of Housing and Community Affairs (TDHCA) the authority to operate the Texas First-Time Homebuyer Program. The bill would provide TDHCA the authority to establish rules and administer the program, would provide eligibility requirements for recipients of the Texas First-Time Homebuyer Program, and identifies the funding source for this program.

Based on information provided by TDHCA, it is assumed that costs related to the duties and responsibilities associated with implementing the provisions of the bill could be covered by utilizing existing resources.

The bill would take effect September 1, 2007.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

332 Department of Housing and Community Affairs

LBB Staff:

JOB, DB, AH