LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 87TH LEGISLATURE 3rd CALLED SESSION 2021 September 29, 2021 TO: Honorable Jane Nelson, Chair, Senate Committee on Finance FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB2 by Nelson (Relating to an appropriation of certain federal coronavirus relief money for paying down the state's unemployment insurance debt.), As Introduced Estimated Two-year Net Impact to General Revenue Related Funds for SB2, As Introduced : an impact of $0 through the biennium ending August 31, 2023. However, there would be a cost of $7.2 billion to the Coronavirus Relief Fund 325. Appropriations: Fiscal Year Appropriation out ofCORONAVIRUS RELIEF FUND3252022$7,245,419,9462023$0General Revenue-Related Funds, Five- Year Impact: Fiscal Year Probable Net Positive/(Negative) Impact toGeneral Revenue Related Funds2022$02023$02024$02025$02026$0All Funds, Five-Year Impact: Fiscal Year Probable (Cost) fromCORONAVIRUS RELIEF FUND3252022($7,245,419,946)2023$02024$02025$02026$0 Fiscal AnalysisThe bill would make a supplemental appropriation to the Comptroller of Public Accounts of money received by the state from the Coronavirus State Fiscal Recovery Fund under the American Rescue Plan Act. The funds would be deposited to the state's unemployment compensation fund for the purpose of paying back outstanding advances received by the state from the federal government and returning the unemployment compensation fund to the statutory floor computed on October 1, 2021.The bill would take effect immediately if it receives a vote of two-thirds of all members elected to each house as provided by Section 39, Article III, Texas Constitution. If the bill does not receive the vote necessary for immediate effect, the bill would take effect on the 91st day after the last day of the legislative session.
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 87TH LEGISLATURE 3rd CALLED SESSION 2021
September 29, 2021
TO: Honorable Jane Nelson, Chair, Senate Committee on Finance FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB2 by Nelson (Relating to an appropriation of certain federal coronavirus relief money for paying down the state's unemployment insurance debt.), As Introduced
TO: Honorable Jane Nelson, Chair, Senate Committee on Finance
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: SB2 by Nelson (Relating to an appropriation of certain federal coronavirus relief money for paying down the state's unemployment insurance debt.), As Introduced
Honorable Jane Nelson, Chair, Senate Committee on Finance
Honorable Jane Nelson, Chair, Senate Committee on Finance
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
SB2 by Nelson (Relating to an appropriation of certain federal coronavirus relief money for paying down the state's unemployment insurance debt.), As Introduced
SB2 by Nelson (Relating to an appropriation of certain federal coronavirus relief money for paying down the state's unemployment insurance debt.), As Introduced
Estimated Two-year Net Impact to General Revenue Related Funds for SB2, As Introduced : an impact of $0 through the biennium ending August 31, 2023. However, there would be a cost of $7.2 billion to the Coronavirus Relief Fund 325.
Estimated Two-year Net Impact to General Revenue Related Funds for SB2, As Introduced : an impact of $0 through the biennium ending August 31, 2023. However, there would be a cost of $7.2 billion to the Coronavirus Relief Fund 325.
However, there would be a cost of $7.2 billion to the Coronavirus Relief Fund 325.
Appropriations:
2022 $7,245,419,946
2023 $0
General Revenue-Related Funds, Five- Year Impact:
2022 $0
2023 $0
2024 $0
2025 $0
2026 $0
All Funds, Five-Year Impact:
2022 ($7,245,419,946)
2023 $0
2024 $0
2025 $0
2026 $0
Fiscal Analysis
The bill would make a supplemental appropriation to the Comptroller of Public Accounts of money received by the state from the Coronavirus State Fiscal Recovery Fund under the American Rescue Plan Act. The funds would be deposited to the state's unemployment compensation fund for the purpose of paying back outstanding advances received by the state from the federal government and returning the unemployment compensation fund to the statutory floor computed on October 1, 2021.The bill would take effect immediately if it receives a vote of two-thirds of all members elected to each house as provided by Section 39, Article III, Texas Constitution. If the bill does not receive the vote necessary for immediate effect, the bill would take effect on the 91st day after the last day of the legislative session.
The bill would take effect immediately if it receives a vote of two-thirds of all members elected to each house as provided by Section 39, Article III, Texas Constitution. If the bill does not receive the vote necessary for immediate effect, the bill would take effect on the 91st day after the last day of the legislative session.
Methodology
The amounts in the above tables reflect the total amount of appropriations made in the bill.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: b > td >
LBB Staff: b > td > JMc, KK, SD
JMc, KK, SD