Honorable Tom Craddick, Chair, House Committee on Land & Resource Management
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
HB2977 by Howard (Relating to the transfer, sale, or exchange of real property or an interest in real property between the City of Austin and a state agency.), As Introduced
The fiscal implications of the bill cannot be determined at this time.
The bill amends the Government Code to expand the eligible use of balances from real property transactions by the City of Austin for use in transactions with any state agency. The bill takes effect September 1, 2019.
Because the frequency and amount of real estate transactions cannot be reasonably estimated, the state fiscal implications of the bill cannot be determined at this time.
Local Government Impact
The City of Austin currently has a ledger with the Texas Facilities Commission with a balance of $5,859,927.30. The bill would have a positive fiscal impact because it would allow the City to utilize the balance.
Source Agencies:
303 Facilities Commission, 347 Public Finance Authority