Honorable Rafael Anchia, Chair, House Committee on International Relations & Economic Development
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
HJR83 by Martinez (Proposing a constitutional amendment authorizing the state or a municipality or county to donate certain property to the United States to promote border crossing security or international bridge trade corridors, to issue public securities to finance the acquisition or construction of that property, and to use public money to make certain payments related to public-private partnerships.), As Introduced
The fiscal implications to the State are indeterminate because the value of donations authorized by the joint resolution and any debt that may be undertaken to finance those donations are unknown.
The cost to the state for publication of the resolution is $177,289.
The joint resolution proposes a constitutional amendment to Article III of the Texas Constitution that would authorize the state, a municipality, or a county to unconditionally donate to the United States to promote border crossing security or international bridge trade corridors. Donations could include technology, equipment, real property, and improvements constructed by the donor.
The resolution would authorize donors to issue securities authorized under general law to finance public works, including acquisition of real property or construction of improvements, and to refinance existing debt incurred in acquiring or developing those assets. The joint resolution would authorize a donor to use public funds to pay lease payments, bond debt service, or other costs associated with a public private partnership.
The fiscal implications to the State are indeterminate because the value of donations authorized by the joint resolution and any debt that may be undertaken to finance those donations are unknown.
The proposed amendment would be submitted to voters at an election to be held November 5, 2019.
Local Government Impact
The fiscal implications to Local Governments are indeterminate because the value of donations authorized by the joint resolution and any debt that may be undertaken to finance those donations are unknown.
Source Agencies:
305 General Land Office and Veterans' Land Board, 347 Public Finance Authority, 352 Bond Review Board, 601 Department of Transportation