LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 74th Regular Session February 19, 1995 TO: Honorable Rene O. Oliveira, Chair IN RE: House Bill No. 1233 Committee on Economic Development By: Moffat House of Representatives Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on House Bill No. 1233 (Relating to withholding for federal income tax purposes from unemployment compensation benefits.) this office has determined the following: The bill would allow individuals eligible to receive unemployment insurance benefits to elect to have federal income tax withheld from the benefits. The bill is necessary for Texas to be in conformity with federal requirements to avoid the loss of certain tax credits. No significant fiscal implication to the State or units of local government is anticipated. Source: Texas Employment Commission LBB Staff: JK, CG, RR Approval Status: Comments: LBB Coordinator Section Director's Approval Section