LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION March 25, 2009 TO: Honorable Steve Ogden, Chair, Senate Committee on Finance FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB629 by West (Relating to the statutory limitation imposed on the University of North Texas System to issue revenue bonds to fund facilities at the University of North Texas Dallas Campus.), As Introduced Estimated Two-year Net Impact to General Revenue Related Funds for SB629, As Introduced: an impact of $0 through the biennium ending August 31, 2011.
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
March 25, 2009
TO: Honorable Steve Ogden, Chair, Senate Committee on Finance FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB629 by West (Relating to the statutory limitation imposed on the University of North Texas System to issue revenue bonds to fund facilities at the University of North Texas Dallas Campus.), As Introduced
TO: Honorable Steve Ogden, Chair, Senate Committee on Finance
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: SB629 by West (Relating to the statutory limitation imposed on the University of North Texas System to issue revenue bonds to fund facilities at the University of North Texas Dallas Campus.), As Introduced
Honorable Steve Ogden, Chair, Senate Committee on Finance
Honorable Steve Ogden, Chair, Senate Committee on Finance
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
SB629 by West (Relating to the statutory limitation imposed on the University of North Texas System to issue revenue bonds to fund facilities at the University of North Texas Dallas Campus.), As Introduced
SB629 by West (Relating to the statutory limitation imposed on the University of North Texas System to issue revenue bonds to fund facilities at the University of North Texas Dallas Campus.), As Introduced
Estimated Two-year Net Impact to General Revenue Related Funds for SB629, As Introduced: an impact of $0 through the biennium ending August 31, 2011.
Estimated Two-year Net Impact to General Revenue Related Funds for SB629, As Introduced: an impact of $0 through the biennium ending August 31, 2011.
General Revenue-Related Funds, Five-Year Impact: Fiscal Year Probable Net Positive/(Negative) Impact to General Revenue Related Funds 2010 $0 2011 $0 2012 ($2,113,333) 2013 ($2,114,200) 2014 ($2,112,200)
2010 $0
2011 $0
2012 ($2,113,333)
2013 ($2,114,200)
2014 ($2,112,200)
All Funds, Five-Year Impact: Fiscal Year Probable Savings/(Cost) fromGeneral Revenue Fund1 2010 $0 2011 $0 2012 ($2,113,333) 2013 ($2,114,200) 2014 ($2,112,200)
Fiscal Year Probable Savings/(Cost) fromGeneral Revenue Fund1 2010 $0 2011 $0 2012 ($2,113,333) 2013 ($2,114,200) 2014 ($2,112,200)
2010 $0
2011 $0
2012 ($2,113,333)
2013 ($2,114,200)
2014 ($2,112,200)
Fiscal Analysis
Under provisions of the bill, the deadline by which enrollment thresholds must be met in order for the University of North Texas System to be authorized to issue $25 million in tuition revenue bonds for University of North Texas - Dallas would be eliminated. The most recent information the system office has provided indicates that the University of North Texas System would issue bonds in fiscal year 2012.
Under provisions of the bill, the deadline by which enrollment thresholds must be met in order for the University of North Texas System to be authorized to issue $25 million in tuition revenue bonds for University of North Texas - Dallas would be eliminated.
The most recent information the system office has provided indicates that the University of North Texas System would issue bonds in fiscal year 2012.
Methodology
Beginning in 2012, the University of North Texas System would issue bonds based on a six percent interest and 20-year debt service amorization. Debt service associated with these bonds would be $2,113,333 in fiscal year 2012, $2,114, 200 in fiscal year 2013 and $2,112,200 in fiscal year 2014.
Beginning in 2012, the University of North Texas System would issue bonds based on a six percent interest and 20-year debt service amorization. Debt service associated with these bonds would be $2,113,333 in fiscal year 2012, $2,114, 200 in fiscal year 2013 and $2,112,200 in fiscal year 2014.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 769 University of North Texas System Administration, 781 Higher Education Coordinating Board
769 University of North Texas System Administration, 781 Higher Education Coordinating Board
LBB Staff: JOB, MN, RT, GO
JOB, MN, RT, GO