LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 80TH LEGISLATIVE REGULAR SESSION

May 23, 2007

TO:	Honorable Tom Craddick, Speaker of the House, House of Representatives
FROM:	John S. O'Brien, Director, Legislative Budget Board
IN RE:	HB3552 by Orr (Relating to the issuance of private activity bonds. ), As Passed 2nd House

No fiscal implication to the State is anticipated.

The bill expands the definition of eligible facilities under the private activity bond program to include both rehabilitation projects and new construction.  The bill also amends the board's authority to grant reservations in the order in which the applications for those reservations are received regardless of the amounts of the related bond issues.  The bill would eliminate the requirement for the presiding officer or authorized officer of local political subdivisions to sign a carryforward designation.

Section 2306.562, Government Code, is amended  to expand the definition of eligible applicants to include the professional nursing program and graduates from allied health programs as well as faculty.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

352 Bond Review Board

LBB Staff:

JOB, CT, JRO, JW