LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION April 1, 2015 TO: Honorable Joseph Pickett, Chair, House Committee on Transportation FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HJR109 by Pickett (Proposing a constitutional amendment authorizing the legislature to permit a county to issue bonds or notes to finance transportation and infrastructure projects in a defined area to be repaid from increases in revenue from ad valorem taxes in the area.), As Introduced No fiscal implication to the State is anticipated, other than the cost of publication. The cost to the state for publication of the resolution is $118,681. The resolution proposes a constitutional amendment to Article VIII of the Texas Constitution to authorize the legislature to authorize a county to issue bonds or notes to finance a transportation or infrastructure project in a defined area of the county and to repay the bonds or notes with ad valorem taxes imposed on property in the area by the county or political subdivision. The proposed amendment would be submitted to voters at an election to be held on November 3, 2015. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies: LBB Staff: UP, AG, SD, EK
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION
April 1, 2015
TO: Honorable Joseph Pickett, Chair, House Committee on Transportation FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HJR109 by Pickett (Proposing a constitutional amendment authorizing the legislature to permit a county to issue bonds or notes to finance transportation and infrastructure projects in a defined area to be repaid from increases in revenue from ad valorem taxes in the area.), As Introduced
TO: Honorable Joseph Pickett, Chair, House Committee on Transportation
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HJR109 by Pickett (Proposing a constitutional amendment authorizing the legislature to permit a county to issue bonds or notes to finance transportation and infrastructure projects in a defined area to be repaid from increases in revenue from ad valorem taxes in the area.), As Introduced
Honorable Joseph Pickett, Chair, House Committee on Transportation
Honorable Joseph Pickett, Chair, House Committee on Transportation
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HJR109 by Pickett (Proposing a constitutional amendment authorizing the legislature to permit a county to issue bonds or notes to finance transportation and infrastructure projects in a defined area to be repaid from increases in revenue from ad valorem taxes in the area.), As Introduced
HJR109 by Pickett (Proposing a constitutional amendment authorizing the legislature to permit a county to issue bonds or notes to finance transportation and infrastructure projects in a defined area to be repaid from increases in revenue from ad valorem taxes in the area.), As Introduced
No fiscal implication to the State is anticipated, other than the cost of publication. The cost to the state for publication of the resolution is $118,681.
No fiscal implication to the State is anticipated, other than the cost of publication. The cost to the state for publication of the resolution is $118,681.
The resolution proposes a constitutional amendment to Article VIII of the Texas Constitution to authorize the legislature to authorize a county to issue bonds or notes to finance a transportation or infrastructure project in a defined area of the county and to repay the bonds or notes with ad valorem taxes imposed on property in the area by the county or political subdivision. The proposed amendment would be submitted to voters at an election to be held on November 3, 2015.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
LBB Staff: UP, AG, SD, EK
UP, AG, SD, EK