LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION April 27, 2009 TO: Honorable Yvonne Davis, Chair, House Committee on Urban Affairs FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB3163 by Davis, Yvonne (Relating to funding the housing trust fund.), Committee Report 1st House, Substituted Estimated Two-year Net Impact to General Revenue Related Funds for HB3163, Committee Report 1st House, Substituted: a negative impact of ($18,414,645) through the biennium ending August 31, 2011. The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill.
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
April 27, 2009
TO: Honorable Yvonne Davis, Chair, House Committee on Urban Affairs FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB3163 by Davis, Yvonne (Relating to funding the housing trust fund.), Committee Report 1st House, Substituted
TO: Honorable Yvonne Davis, Chair, House Committee on Urban Affairs
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: HB3163 by Davis, Yvonne (Relating to funding the housing trust fund.), Committee Report 1st House, Substituted
Honorable Yvonne Davis, Chair, House Committee on Urban Affairs
Honorable Yvonne Davis, Chair, House Committee on Urban Affairs
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
HB3163 by Davis, Yvonne (Relating to funding the housing trust fund.), Committee Report 1st House, Substituted
HB3163 by Davis, Yvonne (Relating to funding the housing trust fund.), Committee Report 1st House, Substituted
Estimated Two-year Net Impact to General Revenue Related Funds for HB3163, Committee Report 1st House, Substituted: a negative impact of ($18,414,645) through the biennium ending August 31, 2011. The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill.
Estimated Two-year Net Impact to General Revenue Related Funds for HB3163, Committee Report 1st House, Substituted: a negative impact of ($18,414,645) through the biennium ending August 31, 2011.
The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill.
General Revenue-Related Funds, Five-Year Impact: Fiscal Year Probable Net Positive/(Negative) Impact to General Revenue Related Funds 2010 ($9,207,323) 2011 ($9,207,322) 2012 $0 2013 $0 2014 $0
2010 ($9,207,323)
2011 ($9,207,322)
2012 $0
2013 $0
2014 $0
All Funds, Five-Year Impact: Fiscal Year Probable (Cost) fromGeneral Revenue Fund1 Probable Revenue Gain fromHousing Trust Fund - Fund Held Outside the Treasury 2010 ($9,207,323) $10,000,000 2011 ($9,207,322) $10,000,000 2012 $0 $0 2013 $0 $0 2014 $0 $0
Fiscal Year Probable (Cost) fromGeneral Revenue Fund1 Probable Revenue Gain fromHousing Trust Fund - Fund Held Outside the Treasury 2010 ($9,207,323) $10,000,000 2011 ($9,207,322) $10,000,000 2012 $0 $0 2013 $0 $0 2014 $0 $0
2010 ($9,207,323) $10,000,000
2011 ($9,207,322) $10,000,000
2012 $0 $0
2013 $0 $0
2014 $0 $0
Fiscal Analysis
The bill would amend the Government Code relating to funding the Housing Trust Fund (HTF). The HTF is a trust fund held outside the Treasury by the Texas Treasury Safekeeping Trust Company. The bill appropriates $10 million in General Revenue to the HTF in fiscal year 2010 and fiscal year 2011. The bill also decreases General Revenue to the Department of Information Resources (DIR) by $10 million if fiscal year 2010 and fiscal year 2011. This bill would take effect September 1, 2009.
The bill would amend the Government Code relating to funding the Housing Trust Fund (HTF). The HTF is a trust fund held outside the Treasury by the Texas Treasury Safekeeping Trust Company.
The bill appropriates $10 million in General Revenue to the HTF in fiscal year 2010 and fiscal year 2011. The bill also decreases General Revenue to the Department of Information Resources (DIR) by $10 million if fiscal year 2010 and fiscal year 2011.
This bill would take effect September 1, 2009.
Methodology
Based on the analysis of DIR current budget resources it is estimated that $792,677 in fiscal year 2010 and $792,678 in fiscal year 2011 would be available to transfer to the HTF to implement the provisons of the bill and any additional funding would be from additional General Revenue appropriated to the Texas Department of Housing and Community Affairs for the HTF.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts, 332 Department of Housing and Community Affairs
304 Comptroller of Public Accounts, 332 Department of Housing and Community Affairs
LBB Staff: JOB, DB, MW, NV, TP
JOB, DB, MW, NV, TP