LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION April 23, 2013 TO: Honorable Jim Pitts, Chair, House Committee on Appropriations FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB19 by Darby (Relating to the appropriation of money from the economic stabilization fund to finance certain transportation infrastructure and water-related projects.), As Introduced Estimated Two-year Net Impact to General Revenue Related Funds for HB19, As Introduced: an impact of $0 through the biennium ending August 31, 2015. However, the bill would appropriate $3,700,000,000 from the Economic Stabilization Fund.
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
April 23, 2013
TO: Honorable Jim Pitts, Chair, House Committee on Appropriations FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB19 by Darby (Relating to the appropriation of money from the economic stabilization fund to finance certain transportation infrastructure and water-related projects.), As Introduced
TO: Honorable Jim Pitts, Chair, House Committee on Appropriations
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB19 by Darby (Relating to the appropriation of money from the economic stabilization fund to finance certain transportation infrastructure and water-related projects.), As Introduced
Honorable Jim Pitts, Chair, House Committee on Appropriations
Honorable Jim Pitts, Chair, House Committee on Appropriations
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB19 by Darby (Relating to the appropriation of money from the economic stabilization fund to finance certain transportation infrastructure and water-related projects.), As Introduced
HB19 by Darby (Relating to the appropriation of money from the economic stabilization fund to finance certain transportation infrastructure and water-related projects.), As Introduced
Estimated Two-year Net Impact to General Revenue Related Funds for HB19, As Introduced: an impact of $0 through the biennium ending August 31, 2015. However, the bill would appropriate $3,700,000,000 from the Economic Stabilization Fund.
Estimated Two-year Net Impact to General Revenue Related Funds for HB19, As Introduced: an impact of $0 through the biennium ending August 31, 2015.
However, the bill would appropriate $3,700,000,000 from the Economic Stabilization Fund.
Appropriations: Fiscal Year Appropriation out ofEconomic Stabilization Fund599 2014 $3,700,000,000 2015 $0 General Revenue-Related Funds, Two-Year Impact: Fiscal Year Probable Net Positive/(Negative) Impact to General Revenue Related Funds 2014 $0 2015 $0 General Revenue-Related Funds, Five-Year Impact: Fiscal Year Probable Net Positive/(Negative) Impact to General Revenue Related Funds 2014 $0 2015 $0 2016 $0 2017 $0 2018 $0 All Funds, Five-Year Impact: Fiscal Year Probable (Cost) fromEconomic Stabilization Fund599 Probable Revenue (Loss) fromEconomic Stabilization Fund599 Probable Revenue Gain fromState Water Implementation Fund Probable Revenue Gain fromState Infrastructure Bank 2014 ($3,700,000,000) ($29,709,000) $1,233,333,333 $1,233,333,333 2015 $0 ($56,332,000) $0 $0 2016 $0 ($76,419,000) $0 $0 2017 $0 ($97,676,000) $0 $0 2018 $0 ($120,451,000) $0 $0 Fiscal Year Probable Revenue Gain fromState Highway Fund6 2014 $1,233,333,334 2015 $0 2016 $0 2017 $0 2018 $0 Fiscal Analysis The bill would appropriate $3,700,000,000 from the Economic Stabilization Fund to: (a) The state water implementation fund, (b) The state infrastructure bank, and (c) TXDOT The bill would take effect September 1, 2013, but only if it receives a vote of two-thirds of the members present in each house of the legislature. Methodology The bill does not specify how the $3.7 billion appropriation should be divided amongst the three purposes outlined in the bill. For purpose of this analysis it is assumed the appropriation would be divided evenly between the 3 funds. There would be a loss of interest revenue from the Economic Stabilization Fund since the appropriated amount would no longer be in the fund. Depending on the disposition of the revenue appropriated into the three new funds, there would be an indeterminate revenue gain.
Fiscal Year Appropriation out ofEconomic Stabilization Fund599 2014 $3,700,000,000 2015 $0
2014 $3,700,000,000
2015 $0
General Revenue-Related Funds, Two-Year Impact: Fiscal Year Probable Net Positive/(Negative) Impact to General Revenue Related Funds 2014 $0 2015 $0
2014 $0
2015 $0
General Revenue-Related Funds, Five-Year Impact: Fiscal Year Probable Net Positive/(Negative) Impact to General Revenue Related Funds 2014 $0 2015 $0 2016 $0 2017 $0 2018 $0
2014 $0
2015 $0
2016 $0
2017 $0
2018 $0
All Funds, Five-Year Impact: Fiscal Year Probable (Cost) fromEconomic Stabilization Fund599 Probable Revenue (Loss) fromEconomic Stabilization Fund599 Probable Revenue Gain fromState Water Implementation Fund Probable Revenue Gain fromState Infrastructure Bank 2014 ($3,700,000,000) ($29,709,000) $1,233,333,333 $1,233,333,333 2015 $0 ($56,332,000) $0 $0 2016 $0 ($76,419,000) $0 $0 2017 $0 ($97,676,000) $0 $0 2018 $0 ($120,451,000) $0 $0 Fiscal Year Probable Revenue Gain fromState Highway Fund6 2014 $1,233,333,334 2015 $0 2016 $0 2017 $0 2018 $0
Fiscal Year Probable (Cost) fromEconomic Stabilization Fund599 Probable Revenue (Loss) fromEconomic Stabilization Fund599 Probable Revenue Gain fromState Water Implementation Fund Probable Revenue Gain fromState Infrastructure Bank 2014 ($3,700,000,000) ($29,709,000) $1,233,333,333 $1,233,333,333 2015 $0 ($56,332,000) $0 $0 2016 $0 ($76,419,000) $0 $0 2017 $0 ($97,676,000) $0 $0 2018 $0 ($120,451,000) $0 $0
2014 ($3,700,000,000) ($29,709,000) $1,233,333,333 $1,233,333,333
2015 $0 ($56,332,000) $0 $0
2016 $0 ($76,419,000) $0 $0
2017 $0 ($97,676,000) $0 $0
2018 $0 ($120,451,000) $0 $0
Fiscal Year Probable Revenue Gain fromState Highway Fund6 2014 $1,233,333,334 2015 $0 2016 $0 2017 $0 2018 $0
2014 $1,233,333,334
2015 $0
2016 $0
2017 $0
2018 $0
Fiscal Analysis
The bill would appropriate $3,700,000,000 from the Economic Stabilization Fund to: (a) The state water implementation fund, (b) The state infrastructure bank, and (c) TXDOT The bill would take effect September 1, 2013, but only if it receives a vote of two-thirds of the members present in each house of the legislature.
The bill would appropriate $3,700,000,000 from the Economic Stabilization Fund to:
(a) The state water implementation fund,
(b) The state infrastructure bank, and
(c) TXDOT
The bill would take effect September 1, 2013, but only if it receives a vote of two-thirds of the members present in each house of the legislature.
Methodology
The bill does not specify how the $3.7 billion appropriation should be divided amongst the three purposes outlined in the bill. For purpose of this analysis it is assumed the appropriation would be divided evenly between the 3 funds. There would be a loss of interest revenue from the Economic Stabilization Fund since the appropriated amount would no longer be in the fund. Depending on the disposition of the revenue appropriated into the three new funds, there would be an indeterminate revenue gain.
The bill does not specify how the $3.7 billion appropriation should be divided amongst the three purposes outlined in the bill. For purpose of this analysis it is assumed the appropriation would be divided evenly between the 3 funds.
There would be a loss of interest revenue from the Economic Stabilization Fund since the appropriated amount would no longer be in the fund. Depending on the disposition of the revenue appropriated into the three new funds, there would be an indeterminate revenue gain.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
LBB Staff: UP, KK, SD
UP, KK, SD