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.