LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION March 15, 2009 TO: Honorable Yvonne Gonzalez Toureilles, Chair, House Committee on Agriculture & Livestock FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB1911 by Isett (Relating to the Texas Rural Investment Fund.), As Introduced No significant fiscal implication to the State is anticipated. The bill would create the Texas Rural Investment Fund, to be administered by the Department of Agriculture, to provide grants or loans in rural areas to stimulate local entrepreneurship, job creation or retention, new capital investment, strategic economic development planning, individual economic and community development leadership training, housing development, or innovative workforce education. 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 with or outside of 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. TDA estimates there would be a minimal cost associated with implementing the provisions of the bill. The bill would take effect September 1, 2009. Local Government Impact If a public entity that is a local government were to receive funds through the Texas Rural Investment Fund, the entity would experience a revenue gain. The amount of revenue gain would depend on the project and the discretion of the Department of Agriculture in making an award. Source Agencies:304 Comptroller of Public Accounts, 551 Department of Agriculture LBB Staff: JOB, WK, AH, DB
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
March 15, 2009
TO: Honorable Yvonne Gonzalez Toureilles, Chair, House Committee on Agriculture & Livestock FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB1911 by Isett (Relating to the Texas Rural Investment Fund.), As Introduced
TO: Honorable Yvonne Gonzalez Toureilles, Chair, House Committee on Agriculture & Livestock
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: HB1911 by Isett (Relating to the Texas Rural Investment Fund.), As Introduced
Honorable Yvonne Gonzalez Toureilles, Chair, House Committee on Agriculture & Livestock
Honorable Yvonne Gonzalez Toureilles, Chair, House Committee on Agriculture & Livestock
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
HB1911 by Isett (Relating to the Texas Rural Investment Fund.), As Introduced
HB1911 by Isett (Relating to the Texas Rural Investment Fund.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would create the Texas Rural Investment Fund, to be administered by the Department of Agriculture, to provide grants or loans in rural areas to stimulate local entrepreneurship, job creation or retention, new capital investment, strategic economic development planning, individual economic and community development leadership training, housing development, or innovative workforce education. 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 with or outside of 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. TDA estimates there would be a minimal cost associated with implementing the provisions of the bill. The bill would take effect September 1, 2009.
The bill would create the Texas Rural Investment Fund, to be administered by the Department of Agriculture, to provide grants or loans in rural areas to stimulate local entrepreneurship, job creation or retention, new capital investment, strategic economic development planning, individual economic and community development leadership training, housing development, or innovative workforce education.
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 with or outside of 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.
TDA estimates there would be a minimal cost associated with implementing the provisions of the bill.
The bill would take effect September 1, 2009.
Local Government Impact
If a public entity that is a local government were to receive funds through the Texas Rural Investment Fund, the entity would experience a revenue gain. The amount of revenue gain would depend on the project and the discretion of the Department of Agriculture in making an award.
Source Agencies: 304 Comptroller of Public Accounts, 551 Department of Agriculture
304 Comptroller of Public Accounts, 551 Department of Agriculture
LBB Staff: JOB, WK, AH, DB
JOB, WK, AH, DB