LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 75th Regular Session March 26, 1997 TO: Honorable Bill Ratliff, Chair IN RE: Senate Bill No. 862, Committee Report 1st House, Substituted Committee on Finance By: Armbrister 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-Committee Report 1st House, Substituted No significant fiscal implication to the State is anticipated. The bill would clarify several tax provisions as administered by the Comptroller of Public Accounts. One of the bill's provisions relates to the statute of limitations as applied to inheritance tax revenue. The bill would extend the statute of limitations in certain situations, thereby providing a gain in state revenue. For example, the statute of limitations would not begin until after the Comptroller received notice of the estate's final assessment of taxable value by the federal government. However, the amount of additional inheritance tax revenue would vary depending on the situation. No significant fiscal implication to units of local government is anticipated. Source: Agencies: 304 Comptroller of Public Accounts LBB Staff: JK ,RR ,RN