Honorable Mike Krusee, Chair, House Committee on Transportation
FROM:
John S. O'Brien, Director, Legislative Budget Board
IN RE:
SB1693 by Nelson (Relating to the creation of inland port authorities; providing authority to impose a tax and issue bonds.), Committee Report 2nd House, Substituted
No fiscal implication to the State is anticipated.
The bill would add Title 15 to the Business & Commerce Code to authorize the creation of inland ports and inland port authorities. Any combination of counties or municipalities would be allowed to agree to create an authority and would be authorized to provide for the methods by which an authority may raise revenue and acquire property, and to establish the powers and duties of the authority. In addition, provisions of the bill would authorize issuance of bonds and levying and collecting ad valorem taxes to finance inland port improvements and facilities.
Local Government Impact
Because methods of financing are provided to cover costs associated with the creation and duties of an inland port, inland port authority, and inland port improvements and facilities, no significant fiscal impact to units of local government is anticipated.