TO: | Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | HB3385 by Chisum (Relating to the use of certain state money for costs related to the relocation to the city of Austin, Texas, of the Interstate Oil and Gas Compact Commission and for the support of that commission.), As Engrossed |
Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2008 | $0 |
2009 | $0 |
2010 | $0 |
2011 | $0 |
2012 | $0 |
Fiscal Year | Probable Savings/(Cost) from COASTAL PROTECTION ACCT 27 |
---|---|
2008 | ($100,000) |
2009 | ($80,000) |
2010 | ($80,000) |
2011 | ($80,000) |
2012 | ($80,000) |
This estimate assumes that the IOGCC would move from its current headquarters in Oklahoma to Austin in fiscal year 2008. It would require office space for its current 10 FTEs. Assuming that each employee will require 200 square feet of office space, a total of 2,000 square feet of office space will be required.
The GLO reports that the 2006 rate of office space in Austin’s central business district was $27.74 per square foot per year. Office space for the IOGCC would therefore cost an estimated $55,480 per year. Miscellaneous expenses, including utilities, furnishing, etc. are estimated atl $44,520 for fiscal year 2008, and $24,520 in subsequent fiscal years.
If the IOGCC would not chose to relocate, there would be no fiscal impact to the state.
Source Agencies: | 305 General Land Office and Veterans' Land Board, 455 Railroad Commission
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LBB Staff: | JOB, JRO, WK, ZS, TL
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