LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION April 3, 2017 TO: Honorable Robert Nichols, Chair, Senate Committee on Transportation FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB980 by Schwertner (Relating to state money or credit or a state guarantee used or provided for high-speed rail owned by a private entity.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Transportation Code to prohibit the use of state money, credit, or guarantees for any purposes related to high-speed rail owned by a private entity, unless the State acquires and maintains a lien on or other security interest in property or other assets owned by the private entity. The bill would require the Comptroller to review and certify an agreement before an entity or official of the State enters into an agreement to provide state money, credit, or guarantee for privately owned high-speed rail purposes.The Comptroller's office and the Texas Department of Transportation indicate that any responsibilities associated with implementing the provisions of the bill could be absorbed within existing resources. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts, 601 Department of Transportation LBB Staff: UP, AG, TG
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION
April 3, 2017
TO: Honorable Robert Nichols, Chair, Senate Committee on Transportation FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB980 by Schwertner (Relating to state money or credit or a state guarantee used or provided for high-speed rail owned by a private entity.), As Introduced
TO: Honorable Robert Nichols, Chair, Senate Committee on Transportation
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB980 by Schwertner (Relating to state money or credit or a state guarantee used or provided for high-speed rail owned by a private entity.), As Introduced
Honorable Robert Nichols, Chair, Senate Committee on Transportation
Honorable Robert Nichols, Chair, Senate Committee on Transportation
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
SB980 by Schwertner (Relating to state money or credit or a state guarantee used or provided for high-speed rail owned by a private entity.), As Introduced
SB980 by Schwertner (Relating to state money or credit or a state guarantee used or provided for high-speed rail owned by a private entity.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend the Transportation Code to prohibit the use of state money, credit, or guarantees for any purposes related to high-speed rail owned by a private entity, unless the State acquires and maintains a lien on or other security interest in property or other assets owned by the private entity. The bill would require the Comptroller to review and certify an agreement before an entity or official of the State enters into an agreement to provide state money, credit, or guarantee for privately owned high-speed rail purposes.The Comptroller's office and the Texas Department of Transportation indicate that any responsibilities associated with implementing the provisions of the bill could be absorbed within existing resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts, 601 Department of Transportation
304 Comptroller of Public Accounts, 601 Department of Transportation
LBB Staff: UP, AG, TG
UP, AG, TG