Honorable Donna Campbell, Chair, Senate Committee on Veteran Affairs & Military Installations
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
SB503 by Perry (Relating to financial assistance to local governmental entities affected by the realignment of defense jobs or facilities.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend Government Code to extend eligibility for Texas Military Preparedness Commission loans to more economic development projects, and increase the amount the Texas Military Preparedness Commission may grant to local government entities for certain purposes. The bill removes the matching funds requirement from local government entities. The bill would take effect immediately upon receiving two-thirds majority vote in each house. Otherwise, the bill would take effect September 1, 2015.
The Office of the Governor and the Comptroller of Public Accounts indicate that any costs associated with implementation of the bill could be absorbed within existing resources.
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