HBA-JRA S.B. 329 76(R) BILL ANALYSIS Office of House Bill AnalysisS.B. 329 By: Haywood Ways & Means 5/20/1999 Engrossed BACKGROUND AND PURPOSE Under current law, oil and gas operators must pay their estimated July taxes on August 15th during odd-numbered years, rather than at the end of the standard grace period on September 1st, in order for the legislature to appropriate funds for the upcoming biennium. S.B. 329 eliminates the early payment of estimated taxes in odd numbered years for oil and gas operators. RULEMAKING AUTHORITY It is the opinion of the Office of House Bill Analysis that this bill does not expressly delegate any additional rulemaking authority to a state officer, department, agency, or institution. SECTION BY SECTION ANALYSIS HBA-JRA S.B. 329 76(R) SECTION 1. Repealer: Section 153.118(e) (regarding gasoline tax reports), Tax Code; Section 153.221(e) (regarding diesel fuel tax reports), Tax Code; Section 201.2015 (regarding gas production estimated tax payments), Tax Code; and Section 202.1515 (regarding oil production estimated tax payments), Tax Code. SECTION 2. Amends Section 201.203(b), Tax Code, to delete text requiring a penalty, if a producer fails to remit a reasonable estimate of tax due, of 10 percent of the delinquent estimate tax due. SECTION 3. Amends Section 201.2035(b), Tax Code, to delete text requiring a penalty, if a purchaser fails to remit a reasonable estimate of tax due, of 10 percent of the delinquent estimate tax due. SECTION 4. Amends Section 202.201(b), Tax Code, to delete text requiring a penalty, if a producer fails to remit a reasonable estimate of tax due, of 10 percent of the delinquent estimate tax due. SECTION 5. Amends Section 202.202(b), Tax Code, to delete text requiring a penalty, if a first purchaser fails to remit a reasonable estimate of tax due, of 10 percent of the delinquent estimate tax due. SECTION 6. Effective date: September 1, 2001. Makes application of this Act prospective. SECTION 7. Emergency clause.