LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION April 18, 2015 TO: Honorable Eddie Lucio Jr., Chair, Senate Committee on Intergovernmental Relations FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1266 by Estes (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, KVe, SD, EK, CL
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION
April 18, 2015
TO: Honorable Eddie Lucio Jr., Chair, Senate Committee on Intergovernmental Relations FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1266 by Estes (Relating to the powers of a public facility corporation.), As Introduced
TO: Honorable Eddie Lucio Jr., Chair, Senate Committee on Intergovernmental Relations
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB1266 by Estes (Relating to the powers of a public facility corporation.), As Introduced
Honorable Eddie Lucio Jr., Chair, Senate Committee on Intergovernmental Relations
Honorable Eddie Lucio Jr., Chair, Senate Committee on Intergovernmental Relations
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
SB1266 by Estes (Relating to the powers of a public facility corporation.), As Introduced
SB1266 by Estes (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, KVe, SD, EK, CL
UP, KVe, SD, EK, CL