Honorable Tan Parker, Chair, House Committee on Investments & Financial Services
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB532 by Schofield (Relating to the authority of a political subdivision to issue debt to purchase or lease tangible personal property.), As Introduced
No fiscal implication to the State is anticipated.
The bill would amend the Government Code to prohibit a political subdivision from issuing a public security to purchase or lease tangible personal property if the expected life of the property ends before the maturity date of the public security.
The bill would take effect September 1, 2017.
The Texas Education Agency does not indicate the bill resulting in a cost to the State.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.