TO: | Honorable Steve Ogden, Chair, Senate Committee on Finance |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | SB696 by Ellis (Relating to the lease of certain state parking facilities to other persons.), As Introduced |
Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2010 | $707,926 |
2011 | $713,078 |
2012 | $712,962 |
2013 | $712,962 |
2014 | $712,962 |
Fiscal Year | Probable (Cost) from General Revenue Fund 1 |
Probable Revenue Gain from General Revenue Fund 1 |
Change in Number of State Employees from FY 2009 |
---|---|---|---|
2010 | ($63,050) | $770,976 | 1.0 |
2011 | ($57,898) | $770,976 | 1.0 |
2012 | ($58,014) | $770,976 | 1.0 |
2013 | ($58,014) | $770,976 | 1.0 |
2014 | ($58,014) | $770,976 | 1.0 |
The bill would implement recommendations in the report, "Optimize the Use of State Parking Facilities," in the LBB Government Effectiveness and Efficiency Report submitted to the Eighty-First Texas Legislature, 2009.
The LBB estimates that implementing the provisions of the bill would result in revenue of $772,000 per year. This estimate is based on leasing 40 percent of the currently available excess parking spaces in the Capitol Complex to individuals at $50 per month. Because the exact implementation (number of parking spaces to be leased and the contract lease rate to be applied) is currently unknown, the Comptroller of Public Accounts cannot provide a certifiable revenue estimate at this time. Changes in the implementation of the program from the assumptions made above will alter projected revenue.
The implementation of a program to lease specific parking spaces to individuals would require the Texas Facilities Commission (TFC) to hire an additional employee due to the quantity of leases involved. The additional employee would cost $63,000 of General Revenue Funds in fiscal year 2010 and $58,000 of General Revenue Funds in fiscal year 2011, for a biennial cost of $121,000. The TFC could manage the lease of entire parking facilities, or segments of parking facilities, with existing resources due to the limited number of opportunities.
Source Agencies: | 303 Facilities Commission, 304 Comptroller of Public Accounts, 347 Public Finance Authority
|
LBB Staff: | JOB, MN, JI, KY
|