LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 74th Regular Session March 21, 1995 TO: Honorable Tom Craddick, Chair IN RE: House BillNo. 1537, Committee on Ways & Means as amended House of Representatives By: Craddick Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on House Bill No. 1537 (Relating to the calculation of the effective tax rate for taxing units.) this office has determined the following: The bill would amend Sections 26.012(11),(12) and (14), Tax Code to change the method in which effective and rollback tax rates are calculated. The subject section are amended so that "last year's debt levy," "last year's levy" and "last year's total value" would not include corrections made pursuant to Section 25.25(d), Tax Code, but would add the amount of taxes refunded during the preceding year. No fiscal implication to the State is anticipated. The fiscal implication to units of local government cannot be determined. Source: LBB Staff: JK, BR, DF