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LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION
March 21, 2021
TO:
Honorable Paul Bettencourt, Chair, Senate Committee on Local Government
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
SB591 by Bettencourt (Relating to requirements for beneficial tax treatment related to a leasehold or other possessory interest in a public facility used to provide affordable housing.), As Introduced
No fiscal implication to the State is anticipated.
The bill would amend the Local Government Code to modify requirements for beneficial tax treatment related to a leasehold or other possessory interest in a public facility used to provide affordable housing.
Local Government Impact
The City of Houston anticipates a loss of $200,000 annual revenue to the city. According to the Comptroller of Public Accounts the bill could have a negative fiscal impact on other units of local environment with public facility corporations that provide multifamily residential units.