LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION May 20, 2017 TO: Honorable Joe Straus, Speaker of the House, House of Representatives FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2761 by Cortez (Relating to the authority of a defense base development authority to participate in a company or partnership organized to finance redevelopment projects. ), As Passed 2nd House No fiscal implication to the State is anticipated. The bill would amend the Local Government Code allowing a defense base development authority to participate as a member or partner of a limited liability company or partnership for the purpose of financing projects that are designated as redevelopment projects. The bill would allow a bond to be secured by a mortgage on base property. The bill would take effect September 1, 2017. Local Government Impact According to the Texas Municipal League (TML), no significant fiscal impact is anticipated for local government. Source Agencies: LBB Staff: UP, SD, SLE, LBO, GG, BM
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION
May 20, 2017
TO: Honorable Joe Straus, Speaker of the House, House of Representatives FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2761 by Cortez (Relating to the authority of a defense base development authority to participate in a company or partnership organized to finance redevelopment projects. ), As Passed 2nd House
TO: Honorable Joe Straus, Speaker of the House, House of Representatives
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB2761 by Cortez (Relating to the authority of a defense base development authority to participate in a company or partnership organized to finance redevelopment projects. ), As Passed 2nd House
Honorable Joe Straus, Speaker of the House, House of Representatives
Honorable Joe Straus, Speaker of the House, House of Representatives
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB2761 by Cortez (Relating to the authority of a defense base development authority to participate in a company or partnership organized to finance redevelopment projects. ), As Passed 2nd House
HB2761 by Cortez (Relating to the authority of a defense base development authority to participate in a company or partnership organized to finance redevelopment projects. ), As Passed 2nd House
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend the Local Government Code allowing a defense base development authority to participate as a member or partner of a limited liability company or partnership for the purpose of financing projects that are designated as redevelopment projects. The bill would allow a bond to be secured by a mortgage on base property. The bill would take effect September 1, 2017.
Local Government Impact
According to the Texas Municipal League (TML), no significant fiscal impact is anticipated for local government.
Source Agencies:
LBB Staff: UP, SD, SLE, LBO, GG, BM
UP, SD, SLE, LBO, GG, BM