LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE
74th Regular Session
April 12, 1995
TO: Honorable Tom Craddick, Chair IN RE: Committee Substitute
Committee on Ways & Means for Senate
House of Representatives Bill No. 401
Austin, Texas
FROM: John Keel, Director
In response to your request for a Fiscal Note on Senate Bill No.
401 (relating to the payment, and procedures to enforce payment,
of taxes and fees collected by the comptroller; providing
penalties) this office has determined the following:
This bill would amend the Tax Code to state that a person
required to collect, truthfully account for, or pay over a tax
who fails to do so would be liable for a penalty equal to the
total amount of tax, in addition to any other penalty provided by
law. Also, the Comptroller would be authorized to impose a
penalty of five percent of tax due on a person who is required to
remit the tax to the Comptroller by means of electronic funds
transfer and does not do so.
The probable fiscal implication of implementing the provisions of
the bill during each of the first five years following passage
is estimated as follows:
Fiscal Probable Revenue Probable Revenue
Year Gain to the Gain to the State
General Revenue Highway Fund 006
Fund 001
1996 $21,800,000 $1,000,000
1997 21,800,000 1,000,000
1998 21,800,000 1,000,000
1999 21,800,000 1,000,000
2000 21,800,000 1,000,000
Similar annual fiscal implications would continue as long as the
provisions of the bill are in effect.
No fiscal implication to units of local government is
anticipated.
Source: Comptroller of Public Accounts
LBB Staff: JK, SM, DF