TO: | Honorable Jim Pitts, Chair, House Committee on Appropriations |
FROM: | Ursula Parks, Director, Legislative Budget Board |
IN RE: | HB5 by Branch (Relating to authorizing the issuance of revenue bonds to fund capital projects at public institutions of higher education; making an appropriation.), As Introduced |
Fiscal Year | Appropriation out of General Revenue Fund 1 |
---|---|
2014 | $0 |
2015 | ($175,000,000) |
Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2014 | $0 |
2015 | ($175,000,000) |
2016 | ($231,496,780) |
2017 | ($231,491,580) |
2018 | ($231,495,630) |
Fiscal Year | Probable Savings/(Cost) from General Revenue Fund 1 |
---|---|
2014 | $0 |
2015 | ($175,000,000) |
2016 | ($231,496,780) |
2017 | ($231,491,580) |
2018 | ($231,495,630) |
For purposes of this fiscal note it is assumed that institutions would not issue bonds until they receive a distribution of related debt service. Therefore it is assumed that costs associated with the bill would begin in fiscal year 2015 in the amount of $175.0 million. For fiscal year 2016 through fiscal year 2018 the cost estimates are based on information provided by the system offices, institutions and the Texas Public Finance Authority which is included below.
Based on calculations prepared by the Texas A&M University System the amount of debt service payments would be $54.8 million beginning in fiscal year 2016. These calculations were based on a 6 percent interest rate with a 20-year level debt service amortization.
Based on calculations prepared by The University of Texas System the amount of debt service payments would be $81.0 million per year beginning in fiscal year 2016. These calculations were based on a 6 percent interest rate with a 20-year level debt service amortization.
Based on calculations prepared by the University of Houston System the amount of debt service payments would be $22 million per year beginning in fiscal year 2016. These calculations were based on a 6 percent interest rate with a 20-year level debt service amortization.
Based on calculations prepared by the Texas State University System the amount of debt service payments would be $15.8 million beginning in fiscal year 2016. These calculations were based on a 4 percent interest rate with a 20-year level debt service amortization.
Based on calculations prepared by the University of North Texas System the amount of debt service payments would be $22.9 million beginning in fiscal year 2016. These calculations were based on a 6 percent interest rate with a 20-year level debt service amortization.
Based on calculations prepared by Texas Woman's University the amount of debt service payments would be $2.8 million beginning in fiscal year 2016. These calculations were based on a 4 percent interest rate with a 20-year level debt service amortization.
Based on calculations prepared by the Texas Public Finance Authority, the amount of debt service payments for the authorization for Midwestern State University would $2.1 million per year beginning in fiscal year 2016. These calculations were based on a 6 percent interest rate with a 20-year level debt service amortization.
Based on calculations prepared by Stephen F. Austin the amount of debt service payments would be $3.5 million beginning in fiscal year 2016. These calculations were based on a 6 percent interest rate with a 20-year level debt service amortization.
Based on calculations prepared by the Texas Tech University System the amount of debt service payments would be $18.8 million beginning in fiscal year 2016. These calculations were based on a 6 percent interest rate with a 20-year level debt service amortization.
Based on calculations prepared by Texas Public Finance Authority the amount of the debt service payments for the authorization for Texas Southern University would be $4.5 million beginning in fiscal year 2016. These calculations were based on a 6 percent interest rate with a 20-year level debt service amortization.
Based on calculations prepared by the Texas State Technical College System the amount of debt service payments would be $3.4 million beginning in fiscal year 2016. These calculations were based on a 4.5 percent interest rate with a 20-year level debt service amortization.
Source Agencies: | 347 Public Finance Authority, 710 Texas A&M University System Administrative and General Offices, 717 Texas Southern University, 719 Texas State Technical College System Administration, 720 The University of Texas System Administration, 731 Texas Woman's University, 755 Stephen F. Austin State University, 758 Texas State University System, 768 Texas Tech University System Administration, 769 University of North Texas System Administration, 781 Higher Education Coordinating Board
|
LBB Staff: | UP, KK, SK, GO
|