LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83rd LEGISLATURE 2nd CALLED SESSION - 2013 July 8, 2013 TO: Honorable Jim Pitts, Chair, House Committee on Appropriations FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB15 by Pickett (Relating to the Texas Mobility Fund.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Transportation Code to prohibit the issuance of Texas Mobility Fund obligations after January 1, 2013. The bill would authorize the Transportation Commission to use excess money in the Texas Mobility Fund to repay principal and interest due on short-term notes and loans, State Highway Fund Revenue bonds (Proposition 14 bonds), and Highway Improvement General Obligation bonds (Proposition 12 bonds). For the purpose of this estimate it is assumed that money on deposit in the Texas Mobility Fund would be used to pay debt service on current Mobility Fund bond obligations and to pay for the costs of transportation projects in lieu of proceeds from the issuance of new Mobility Fund obligations after January, 1, 2013; and money in the Texas Mobility Fund would not be used to pay principal and interest on short-term notes, Proposition 14 bonds, or Proposition 12 bonds. Therefore, it is assumed the provisions of the bill would not result in a significant fiscal impact to the State. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:601 Department of Transportation LBB Staff: UP, KK, MW, TG
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83rd LEGISLATURE 2nd CALLED SESSION - 2013
July 8, 2013
TO: Honorable Jim Pitts, Chair, House Committee on Appropriations FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB15 by Pickett (Relating to the Texas Mobility Fund.), As Introduced
TO: Honorable Jim Pitts, Chair, House Committee on Appropriations
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB15 by Pickett (Relating to the Texas Mobility Fund.), 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
HB15 by Pickett (Relating to the Texas Mobility Fund.), As Introduced
HB15 by Pickett (Relating to the Texas Mobility Fund.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend the Transportation Code to prohibit the issuance of Texas Mobility Fund obligations after January 1, 2013. The bill would authorize the Transportation Commission to use excess money in the Texas Mobility Fund to repay principal and interest due on short-term notes and loans, State Highway Fund Revenue bonds (Proposition 14 bonds), and Highway Improvement General Obligation bonds (Proposition 12 bonds). For the purpose of this estimate it is assumed that money on deposit in the Texas Mobility Fund would be used to pay debt service on current Mobility Fund bond obligations and to pay for the costs of transportation projects in lieu of proceeds from the issuance of new Mobility Fund obligations after January, 1, 2013; and money in the Texas Mobility Fund would not be used to pay principal and interest on short-term notes, Proposition 14 bonds, or Proposition 12 bonds. Therefore, it is assumed the provisions of the bill would not result in a significant fiscal impact to the State.
The bill would amend the Transportation Code to prohibit the issuance of Texas Mobility Fund obligations after January 1, 2013. The bill would authorize the Transportation Commission to use excess money in the Texas Mobility Fund to repay principal and interest due on short-term notes and loans, State Highway Fund Revenue bonds (Proposition 14 bonds), and Highway Improvement General Obligation bonds (Proposition 12 bonds).
For the purpose of this estimate it is assumed that money on deposit in the Texas Mobility Fund would be used to pay debt service on current Mobility Fund bond obligations and to pay for the costs of transportation projects in lieu of proceeds from the issuance of new Mobility Fund obligations after January, 1, 2013; and money in the Texas Mobility Fund would not be used to pay principal and interest on short-term notes, Proposition 14 bonds, or Proposition 12 bonds. Therefore, it is assumed the provisions of the bill would not result in a significant fiscal impact to the State.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 601 Department of Transportation
601 Department of Transportation
LBB Staff: UP, KK, MW, TG
UP, KK, MW, TG