Bill: HJR 145, 86(R) - 2019

Committee

House Appropriations

Vote Recommendation

Vote Recommendation Economic Freedom Property Rights Personal Responsibility Limited Government Individual Liberty
Neutral Neutral Neutral Neutral Neutral Neutral

Author(s)

Sarah Davis

Bill Caption

Proposing a constitutional amendment authorizing the issuance of general obligation bonds to provide financial assistance to political subdivisions located in areas of the state affected by a disaster.

Fiscal Notes

From the LBB: There would be a negative fiscal impact to the state depending on the amount, timing, and structure of general obligation bonds issued under provisions of the bill.

Bill Analysis

HJR 145 proposes a constitutional amendment to authorize the disaster reinvestment and infrastructure planning board to issue general obligation bonds to help fund recovery efforts for political subdivisions located in a disaster area. The amount of the bonds would be capped at $500 million dollars.

Vote Recommendation Notes

We recognize that disaster planning and response are a legitimate function of state government. We are concerned about adding new general obligation bond debt to the growing debt problem the state faces. On the other hand, there are few good options for addressing the massive cost of natural disasters, particularly considering that funds promised by the federal government are slow to trickle in. For these reasons we remain cautiously neutral on HJR 145.


Source URL (retrieved on 03/28/2024 12:03 PM): http://reports.texasaction.com/bill/86r/hjr145?print_view=true