LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 74th Regular Session March 14, 1995 TO: Honorable Tom Craddick, Chair IN RE: House Bill No. 1537 Committee on Ways & Means By: Craddick House of Representatives 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, 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: Comptroller of Public Accounts LBB Staff: JK, BR, DF