LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 75th Regular Session April 6, 1997 TO: Honorable Kenneth Armbrister, Chair IN RE: Senate Bill No. 765 Committee on State Affairs By: Ratliff Senate Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on SB765 ( Relating to appraisal for property tax purposes of open-space land that is converted to production of timber.) this office has detemined the following: Biennial Net Impact to General Revenue Funds by SB765-As Introduced No significant fiscal implication to the State is anticipated. The bill would allow landowners, whose land qualified for special appraisal as open-space land for at least five years preceding the land's conversion to production of timber, to qualify for special appraisal and continue to pay property taxes based on the property's prior use as agricultural land. Appraisal of the land based on the use prior to conversion to timberland would continue for a 15 year period following the first year the land qualifies for timber valuation. The bill would apply only to land converted to the production of timber after September 1, 1997. The bill would take effect January 1, 1997. No significant fiscal implication to units of local government is anticipated. Source: Agencies: 304 Comptroller of Public Accounts LBB Staff: JK ,JD ,BR