LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION March 31, 2015 TO: Honorable Tan Parker, Chair, House Committee on Investments & Financial Services FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2679 by Flynn (Relating to the powers of a public facility corporation.), As Introduced No fiscal implication to the State is anticipated. The bill would amend the Local Government Code to modify the definition of a "credit agreement". The bill would amend the powers of a public facility corporation to include issuing bonds to purchase sponsor obligations and amend the powers of a corporation to grant a pledge of a public facility financed by the corporation under certain circumstances. The bill would permit the corporation to exercise any powers that a nonprofit corporation may exercise to the extent necessary to accomplish the purpose of the corporation. The bill would permit a public utility corporation to grant leasehold or other possessory interest in a public facility. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies: LBB Staff: UP, CL, SD, EK
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION
March 31, 2015
TO: Honorable Tan Parker, Chair, House Committee on Investments & Financial Services FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2679 by Flynn (Relating to the powers of a public facility corporation.), As Introduced
TO: Honorable Tan Parker, Chair, House Committee on Investments & Financial Services
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB2679 by Flynn (Relating to the powers of a public facility corporation.), As Introduced
Honorable Tan Parker, Chair, House Committee on Investments & Financial Services
Honorable Tan Parker, Chair, House Committee on Investments & Financial Services
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB2679 by Flynn (Relating to the powers of a public facility corporation.), As Introduced
HB2679 by Flynn (Relating to the powers of a public facility corporation.), As Introduced
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 modify the definition of a "credit agreement". The bill would amend the powers of a public facility corporation to include issuing bonds to purchase sponsor obligations and amend the powers of a corporation to grant a pledge of a public facility financed by the corporation under certain circumstances. The bill would permit the corporation to exercise any powers that a nonprofit corporation may exercise to the extent necessary to accomplish the purpose of the corporation. The bill would permit a public utility corporation to grant leasehold or other possessory interest in a public facility.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
LBB Staff: UP, CL, SD, EK
UP, CL, SD, EK