LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION May 10, 2011 TO: Honorable Mike Jackson, Chair, Senate Committee on Economic Development FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB3302 by Reynolds (Relating to the authority of certain Type A economic development corporations to undertake certain categories of projects.), As Engrossed No fiscal implication to the State is anticipated. The bill would amend the Local Government Code to authorize certain Type A corporations to undertake any project a Type B corporation is authorized to undertake. The authorizing municipality would have the ability to revoke the distinction for an individual corporation. The provisions of the bill would apply only to a city with a population of 7,500 or less that has adopted both the 4A and 4B corporations. Local Government Impact The Texas Municipal League (TML) reported that under current law, cities can adopt, by election, either 4A or 4B Economic Development Corporations (corporation). The types of projects that can be undertaken by a 4B corporation are broader than those of a 4A corporation and under the provisions of the bill, a 4A corporation would be authorized to undertake the same projects as a 4B corporation. The fiscal impact to cities is not anticipated to be significant. Source Agencies: LBB Staff: JOB, AG, TP
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION
May 10, 2011
TO: Honorable Mike Jackson, Chair, Senate Committee on Economic Development FROM: John S O'Brien, Director, Legislative Budget Board IN RE:HB3302 by Reynolds (Relating to the authority of certain Type A economic development corporations to undertake certain categories of projects.), As Engrossed
TO: Honorable Mike Jackson, Chair, Senate Committee on Economic Development
FROM: John S O'Brien, Director, Legislative Budget Board
IN RE: HB3302 by Reynolds (Relating to the authority of certain Type A economic development corporations to undertake certain categories of projects.), As Engrossed
Honorable Mike Jackson, Chair, Senate Committee on Economic Development
Honorable Mike Jackson, Chair, Senate Committee on Economic Development
John S O'Brien, Director, Legislative Budget Board
John S O'Brien, Director, Legislative Budget Board
HB3302 by Reynolds (Relating to the authority of certain Type A economic development corporations to undertake certain categories of projects.), As Engrossed
HB3302 by Reynolds (Relating to the authority of certain Type A economic development corporations to undertake certain categories of projects.), As Engrossed
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend the Local Government Code to authorize certain Type A corporations to undertake any project a Type B corporation is authorized to undertake. The authorizing municipality would have the ability to revoke the distinction for an individual corporation. The provisions of the bill would apply only to a city with a population of 7,500 or less that has adopted both the 4A and 4B corporations.
Local Government Impact
The Texas Municipal League (TML) reported that under current law, cities can adopt, by election, either 4A or 4B Economic Development Corporations (corporation). The types of projects that can be undertaken by a 4B corporation are broader than those of a 4A corporation and under the provisions of the bill, a 4A corporation would be authorized to undertake the same projects as a 4B corporation. The fiscal impact to cities is not anticipated to be significant.
Source Agencies:
LBB Staff: JOB, AG, TP
JOB, AG, TP