LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION April 19, 2015 TO: Honorable Jimmie Don Aycock, Chair, House Committee on Public Education FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2833 by Farney (Relating to the issuance of interest-bearing time warrants by school districts.), As Introduced No significant fiscal implication to the State is anticipated. This bill amends the Education Code related to the issuance of interest-bearing time warrants by school districts. The bill increases the maximum maturity period for an interest-bearing time warrant issued by a school district from 15 to 20 years and increases the limit on the total amount of a district's total outstanding time warrants from $1 million to $2 million. This bill would take effect September 1, 2015.Based on the analysis of the Texas Education Agency, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources. Local Government Impact This bill would give school districts greater flexibility with regard to borrowing. Source Agencies:701 Central Education Agency LBB Staff: UP, JBi, SL
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION
April 19, 2015
TO: Honorable Jimmie Don Aycock, Chair, House Committee on Public Education FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2833 by Farney (Relating to the issuance of interest-bearing time warrants by school districts.), As Introduced
TO: Honorable Jimmie Don Aycock, Chair, House Committee on Public Education
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB2833 by Farney (Relating to the issuance of interest-bearing time warrants by school districts.), As Introduced
Honorable Jimmie Don Aycock, Chair, House Committee on Public Education
Honorable Jimmie Don Aycock, Chair, House Committee on Public Education
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB2833 by Farney (Relating to the issuance of interest-bearing time warrants by school districts.), As Introduced
HB2833 by Farney (Relating to the issuance of interest-bearing time warrants by school districts.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
This bill amends the Education Code related to the issuance of interest-bearing time warrants by school districts. The bill increases the maximum maturity period for an interest-bearing time warrant issued by a school district from 15 to 20 years and increases the limit on the total amount of a district's total outstanding time warrants from $1 million to $2 million. This bill would take effect September 1, 2015.Based on the analysis of the Texas Education Agency, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
Local Government Impact
This bill would give school districts greater flexibility with regard to borrowing.
Source Agencies: 701 Central Education Agency
701 Central Education Agency
LBB Staff: UP, JBi, SL
UP, JBi, SL