LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE
75th Regular Session
May 31, 1997
TO: Honorable Bob Bullock Honorable James E. "Pete" Laney
Lieutenant Governor Speaker of the House
Senate
Austin, Texas
FROM: John Keel, Director
In response to your request for a Fiscal Note on SB862 ( relating
to the administration, collection, and enforcement by the comptroller
of various taxes and fees) this office has detemined the following:
Biennial Net Impact to General Revenue Funds by SB862-Conference Committee Report
Implementing the provisions of the bill would result in a net
positive impact of $3,710,000 to General Revenue Related Funds
through the biennium ending August 31, 1999.
Fiscal Analysis
The bill would clarify several tax provisions as administered
by the Comptroller of Public Accounts.
The bill would also
amend the Tax Code to require crude oil severance taxes to be
reported at the lease level rather than the county level, thereby
standardizing the reporting basis for oil and gas.
Methodolgy
The bill would change the basis for reporting the oil severance
tax. The Comptroller of Public Accounts estimates that improved
audit procedures and tax reporting would generate additional
state revenues equivalent to approximately one percent of total
oil severance tax revenues.
The probable fiscal implications of implementing the provisions
of the bill during each of the first five years following passage
is estimated as follows:
Five Year Impact:
Fiscal Year Probable Revenue
Gain/(Loss) from
General Revenue
Fund
0001
1998 $0
1998 3,710,000
2000 3,650,000
2001 3,650,000
2002 3,650,000
Net Impact on General Revenue Related Funds:
Fiscal Year Probable Net Postive/(Negative)
General Revenue Related Funds
Funds
1998 $0
1999 3,710,000
2000 3,650,000
2001 3,650,000
2002 3,650,000
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: Agencies: 304 Comptroller of Public Accounts
LBB Staff: JK ,RR ,RN