Honorable Paul Bettencourt, Chair, Senate Committee on Local Government
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
SB393 by Sparks (relating to the authority of a political subdivision to issue debt to purchase or lease property.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
It is assumed that any costs associated with the bill could be absorbed using existing resources.
Local Government Impact
There could be an impact on certain political subdivisions that issue public securities to purchase or lease tangible personal property whose expected life ends before the maturity date of the public security, as such issuance would be prohibited by the bill.
Source Agencies:
701 Texas Education Agency, 966 Howard College, 978 San Jacinto College