LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 80TH LEGISLATIVE REGULAR SESSION

March 21, 2007

TO:	Honorable Mike Krusee, Chair, House Committee on Transportation
FROM:	John S. O'Brien, Director, Legislative Budget Board
IN RE:	HB2986 by Hill (Relating to the issuance of commercial paper notes by certain regional transportation authorities.), As Introduced

No fiscal implication to the State is anticipated.

The bill would amend Section 452.352 of the Transportation Code to specify that the requirements under subsection (b) regarding bonds issued by certain regional transportation authorities would not apply to certain commercial paper notes. Subsection (b) requires an election before issuing certain bonds; therefore, provisions of the bill would authorize a regional transportation authority to issue certain commercial paper notes without first having to hold an election to obtain voter approval.

The bill would take effect September 1, 2007.

Local Government Impact

No significant fiscal implication to units of local government is anticipated.

Source Agencies:

LBB Staff:

JOB, KJG, DB