LEGISLATIVE BUDGET BOARD
Austin, Texas
 
FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION
 
May 8, 2015

TO:
Honorable Troy Fraser, Chair, Senate Committee on Natural Resources & Economic Development
 
FROM:
Ursula Parks, Director, Legislative Budget Board
 
IN RE:
HB2667 by Ashby (Relating to the abolishment of certain programs administered by the Texas Economic Development Bank.), As Engrossed



Estimated Two-year Net Impact to General Revenue Related Funds for HB2667, As Engrossed: a positive impact of $846,024 through the biennium ending August 31, 2017.

The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill.



Fiscal Year Probable Net Positive/(Negative) Impact to General Revenue Related Funds
2016 $846,024
2017 $0
2018 $0
2019 $0
2020 $0




Fiscal Year Probable Revenue Gain/(Loss) from
General Revenue Fund
1
2016 $846,024
2017 $0
2018 $0
2019 $0
2020 $0

Fiscal Analysis

The bill would abolish the Linked Deposit and the Texas Small Business Industrial Development Corporation programs. The bill would transfer all revenue or other money of the Texas Small Business Industrial Development Corporation to the Economic Development Bank. The bill would take effect September 1, 2015.

Methodology

Based on provisions of this bill, fees generated by the Texas Small Business Industrial Development Corporation under Chapter 503, Local Government Code, and deposited outside the state Treasury would be transferred to General Revenue. The Governor's office estimates these fees to be $846,024.

Local Government Impact

No significant fiscal implication to units of local government is anticipated.


Source Agencies:
301 Office of the Governor, 304 Comptroller of Public Accounts
LBB Staff:
UP, SZ, CL, EP, LBe