HBA-EDN H.B. 3329 77(R) BILL ANALYSIS Office of House Bill AnalysisH.B. 3329 By: Averitt Financial Institutions 3/30/2001 Introduced BACKGROUND AND PURPOSE Federal law limits the amount of tax-exempt financing that may be used to benefit private entities or individuals each year and authorizes each state to allocate this money through a private activity bond allocation program (program). The United States Congress has set the state ceiling on tax-exempt private activity bonds for fiscal years 2001 and 2002. House Bill 3329 sets forth new state ceiling provisions for the program. RULEMAKING AUTHORITY It is the opinion of the Office of House Bill Analysis that this bill does not expressly delegate any additional rulemaking authority to a state officer, department, agency, or institution. ANALYSIS House Bill 3329 amends the Government Code to set forth new state ceiling provisions for the private activity bond allocation program. EFFECTIVE DATE September 1, 2001.