LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION

May 9, 2017

TO:	Honorable Eddie Lucio, Jr., Chair, Senate Committee on Intergovernmental Relations
FROM:	Ursula Parks, Director, Legislative Budget Board
IN RE:	SB2293 by Creighton (Relating to the creation of Montgomery County Improvement District No. 1; providing authority to issue bonds; providing authority to impose assessments, fees, or taxes.), As Introduced

No fiscal implication to the State is anticipated.

The bill would amend the Special District Local Laws Code establishing the Montgomery County Improvement District No. 1. The district would have the authority to engage in economic development activities. The district would have authority to issue bonds and other obligations, without an election. The district would have authority to impose an operation and maintenance tax and a contract tax.

The bill would take effect immediately if the bill receives a two-thirds vote in each house; otherwise, the bill would take effect September 1, 2017.

Local Government Impact

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

Source Agencies:

LBB Staff:

UP, JGA, GG, BM