LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 88TH LEGISLATIVE REGULAR SESSION April 10, 2023 TO: Honorable Paul Bettencourt, Chair, Senate Committee on Local Government FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB561 by Sparks (Relating to the authority of a political subdivision to issue debt to purchase or lease tangible personal property.), As Introduced No significant fiscal implication to the State is anticipated. It is assumed that any costs associated with the bill could be absorbed using existing resources. Local Government ImpactThere could be an impact on certain political subdivisions as a result of the bill's prohibition against the issuance of a public security to purchase or lease tangible personal property if the expected life of the property ends before the maturity date of the public security. Source Agencies: b > td > 352 Bond Review Board, 701 Texas Education Agency, 978 San Jacinto College LBB Staff: b > td > JMc, AF, CMA, NTh
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 88TH LEGISLATIVE REGULAR SESSION
April 10, 2023
TO: Honorable Paul Bettencourt, Chair, Senate Committee on Local Government FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB561 by Sparks (Relating to the authority of a political subdivision to issue debt to purchase or lease tangible personal property.), As Introduced
TO: Honorable Paul Bettencourt, Chair, Senate Committee on Local Government
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: SB561 by Sparks (Relating to the authority of a political subdivision to issue debt to purchase or lease tangible personal property.), As Introduced
Honorable Paul Bettencourt, Chair, Senate Committee on Local Government
Honorable Paul Bettencourt, Chair, Senate Committee on Local Government
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
SB561 by Sparks (Relating to the authority of a political subdivision to issue debt to purchase or lease tangible personal property.), As Introduced
SB561 by Sparks (Relating to the authority of a political subdivision to issue debt to purchase or lease tangible personal property.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
It is assumed that any costs associated with the bill could be absorbed using existing resources.
Local Government Impact
There could be an impact on certain political subdivisions as a result of the bill's prohibition against the issuance of a public security to purchase or lease tangible personal property if the expected life of the property ends before the maturity date of the public security.
Source Agencies: b > td > 352 Bond Review Board, 701 Texas Education Agency, 978 San Jacinto College
352 Bond Review Board, 701 Texas Education Agency, 978 San Jacinto College
LBB Staff: b > td > JMc, AF, CMA, NTh
JMc, AF, CMA, NTh