BILL ANALYSIS

Senate Research Center	H.B. 2121
88R9424 LHC-D	By: Paul et al. (Springer)
	Local Government
	5/5/2023
	Engrossed

AUTHOR'S / SPONSOR'S STATEMENT OF INTENT

H.B. 2121 aims to make tax filing easier for small businesses by eliminating the notarization requirement for inventory report forms submitted to the state. Currently, small businesses must notarize the forms before submitting them, which can be time-consuming and stressful. The bill would streamline the process and reduce the burden for small businesses.

Specifically, H.B. 2121 removes the requirement for a notary attestation for annual reports of property with estimated value of $500,000 or less that was used to produce income.

Author's Summary Analysis

The bill amends the Tax Code to exempt a rendition statement or property report filed on behalf of a property owner who is rendering tangible personal property used to produce income and whose good faith estimate of the property's market value is not more than $500,000 from the requirement to be sworn to before an officer authorized by law to administer an oath to be valid. The bill makes the exemption prospective.

Effective Date

January 1, 2024

H.B. 2121 amends current law relating to the form of a rendition statement or property report used to render property for ad valorem tax purposes.

RULEMAKING AUTHORITY

This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.

SECTION BY SECTION ANALYSIS

SECTION 1. Amends Section 22.24(e), Tax Code, as follows:

(e) Provides that this subsection does not apply to a rendition or report filed:

(1)-(4) creates these subdivisions from existing text and makes nonsubstantive changes; or

(5) on behalf of a property owner who is rendering tangible personal property used for the production of income and whose good faith estimate of the market value of that property is not more than $500,000.

SECTION 2. Makes application of the change in law made by this Act prospective to January 1, 2024.

SECTION 3. Effective date: January 1, 2024.