Honorable Tom Craddick, Chair, House Committee on Transportation
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
HB4524 by Martinez (Relating to the establishment of the Texas airport investment partnership program.), As Introduced
Because the amount and timing of appropriations by the Legislature, gifts, grants, and donations, investment earnings and interest earned, and loan repayments to the new Texas Airport Investment Program Fund are unknown, the fiscal implications of the bill cannot be determined at this time.
The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill.
The bill would establish the Texas Airport Investment Partnership Program Fund as a special fund inside the state treasury outside the General Revenue Fund to consist of (1) money appropriated by the Legislature for deposit to the fund; (2) gifts, grants, and donations to the fund; (3) investment earnings and interest earned on deposits to the fund; and (4) money from repayment of loans issued from the fund.
The bill would require the Aviation Division of the Texas Department of Transportation (TxDOT) to establish, implement, and administer the Texas Airport Investment Partnership Program to provide loans for general aviation airport infrastructure projects, including loans from the fund established by the bill. The bill would establish an oversight committee composed of TxDOT Aviation Division staff and a presiding officer appointed by the Governor. The bill would prescribe certain procedures and requirements for the submission of loan applications by eligible political subdivisions and the selection of projects and loan awards by the oversight committee. The bill would take effect on September 1, 2025.
Because the amount and timing of appropriations by the Legislature, gifts, grants, and donations, investment earnings and interest earned, and loan repayments to the new Texas Airport Investment Program Fund are unknown, the fiscal implications of the bill cannot be determined at this time.
It is assumed any other costs associated with implementing the provisions of the bill could be absorbed within existing resources.
Note: This legislation would do one or more of the following: create or recreate a dedicated account in the General Revenue Fund, create or recreate a special or trust fund either in, with, or outside the Treasury, or create a dedicated revenue source. The fund, account, or revenue dedication included in this bill would be subject to funds consolidation review by the current Legislature.
Local Government Impact
The fiscal implications of the bill to units of local government cannot be determined at this time.
Source Agencies:
300 Trusteed Programs Within the Office of the Governor, 304 Comptroller of Public Accounts, 601 Department of Transportation