Honorable Charles Perry, Chair, Senate Committee on Agriculture, Water & Rural Affairs
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB2350 by Anderson, Charles "Doc" (Relating to the amount that may be used to guarantee loans under the Texas Agricultural Finance Authority's agricultural loan guarantee program.), As Engrossed
The fiscal implications of the bill cannot be determined at this time
The bill would amend the Agriculture Code, regarding the agricultural loan guarantee program. The bill would allow the Texas Agricultural Finance Authority (TAFA) to use up to three times the amount contained in the Texas Agricultural Fund to guarantee loans under the agricultural loan guarantee program. Under current law, TAFA may only use up to three-fourths of the amount contained in the fund to guarantee loans.
The Texas Department of Agriculture does not anticipate any fiscal implication to the state. The Comptroller of Public Accounts indicates that any fiscal implication would depend on guaranteed loan recipients going into default in amounts larger than are guaranteed under current law, and therefore any fiscal implication cannot be determined.
Local Government Impact
The fiscal implications of the bill cannot be determined at this time
Source Agencies:
304 Comptroller of Public Accounts, 551 Department of Agriculture