LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION April 3, 2009 TO: Honorable Mark Strama, Chair, House Committee on Technology, Economic Development & Workforce FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB3409 by Gonzales (Relating to the use of money from the Texas Enterprise Fund to recruit and retain automotive manufacturing facilities.), As Introduced No significant fiscal implication to the State is anticipated. The bill would authorize municipalities to be eligible to receive grants from the Texas Enterprise Fund, not to exceed $50 million in one fiscal year, to recruit or retain automotive manufacturing facilities. The bill would be effective September 1, 2009. The Office of the Governor reports that the agency may need to seek assistance from outside legal and financial counsel with expertise in the automotive manufacturing industry when making these grant awards. It is assumed that costs associated with implementation could be absorbed within existing resources. Local Government Impact A municipality awarded a grant would experience a revenue gain in an amount that would depend on determination by the Office of the Governor, but not more than $50 million in a fiscal year. Source Agencies:301 Office of the Governor LBB Staff: JOB, JRO, MS, BTA, DB
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
April 3, 2009
TO: Honorable Mark Strama, Chair, House Committee on Technology, Economic Development & Workforce FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB3409 by Gonzales (Relating to the use of money from the Texas Enterprise Fund to recruit and retain automotive manufacturing facilities.), As Introduced
TO: Honorable Mark Strama, Chair, House Committee on Technology, Economic Development & Workforce
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: HB3409 by Gonzales (Relating to the use of money from the Texas Enterprise Fund to recruit and retain automotive manufacturing facilities.), As Introduced
Honorable Mark Strama, Chair, House Committee on Technology, Economic Development & Workforce
Honorable Mark Strama, Chair, House Committee on Technology, Economic Development & Workforce
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
HB3409 by Gonzales (Relating to the use of money from the Texas Enterprise Fund to recruit and retain automotive manufacturing facilities.), As Introduced
HB3409 by Gonzales (Relating to the use of money from the Texas Enterprise Fund to recruit and retain automotive manufacturing facilities.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would authorize municipalities to be eligible to receive grants from the Texas Enterprise Fund, not to exceed $50 million in one fiscal year, to recruit or retain automotive manufacturing facilities. The bill would be effective September 1, 2009. The Office of the Governor reports that the agency may need to seek assistance from outside legal and financial counsel with expertise in the automotive manufacturing industry when making these grant awards. It is assumed that costs associated with implementation could be absorbed within existing resources.
The bill would authorize municipalities to be eligible to receive grants from the Texas Enterprise Fund, not to exceed $50 million in one fiscal year, to recruit or retain automotive manufacturing facilities. The bill would be effective September 1, 2009.
The Office of the Governor reports that the agency may need to seek assistance from outside legal and financial counsel with expertise in the automotive manufacturing industry when making these grant awards. It is assumed that costs associated with implementation could be absorbed within existing resources.
Local Government Impact
A municipality awarded a grant would experience a revenue gain in an amount that would depend on determination by the Office of the Governor, but not more than $50 million in a fiscal year.
Source Agencies: 301 Office of the Governor
301 Office of the Governor
LBB Staff: JOB, JRO, MS, BTA, DB
JOB, JRO, MS, BTA, DB