LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION May 24, 2017 TO: Honorable Joe Straus, Speaker of the House, House of Representatives FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2938 by Reynolds (Relating to the Sienna Plantation Levee Improvement District of Fort Bend County, Texas. ), As Passed 2nd House No fiscal implication to the State is anticipated. The bill would amend Chapter 986, Acts of the 78th Legislature, Regular Session, 2003 related to the Sienna Plantation Levee Improvement District of Fort Bend County, Texas. The bill would limit the outstanding principal of bonds, notes, and other obligations issued to finance parks and recreational facilities supported by ad valorem taxation to not exceed an amount equal to one percent of the taxable property in the district unless a majority of voters approve a proposition increasing the maximum to two percent of the taxable property in the district. The bill would take effect immediately if the bill receives a two-thirds vote in each house; otherwise the bill would take effect September 1, 2017. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies: LBB Staff: UP, SZ, JGA, GG, BM
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION
May 24, 2017
TO: Honorable Joe Straus, Speaker of the House, House of Representatives FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2938 by Reynolds (Relating to the Sienna Plantation Levee Improvement District of Fort Bend County, Texas. ), As Passed 2nd House
TO: Honorable Joe Straus, Speaker of the House, House of Representatives
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB2938 by Reynolds (Relating to the Sienna Plantation Levee Improvement District of Fort Bend County, Texas. ), 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
HB2938 by Reynolds (Relating to the Sienna Plantation Levee Improvement District of Fort Bend County, Texas. ), As Passed 2nd House
HB2938 by Reynolds (Relating to the Sienna Plantation Levee Improvement District of Fort Bend County, Texas. ), As Passed 2nd House
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend Chapter 986, Acts of the 78th Legislature, Regular Session, 2003 related to the Sienna Plantation Levee Improvement District of Fort Bend County, Texas. The bill would limit the outstanding principal of bonds, notes, and other obligations issued to finance parks and recreational facilities supported by ad valorem taxation to not exceed an amount equal to one percent of the taxable property in the district unless a majority of voters approve a proposition increasing the maximum to two percent of the taxable property in the district. The bill would take effect immediately if the bill receives a two-thirds vote in each house; otherwise the bill would take effect September 1, 2017.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
LBB Staff: UP, SZ, JGA, GG, BM
UP, SZ, JGA, GG, BM