LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 76th Regular Session
April 12, 1999
TO: Honorable Jim Solis, Chair, House Committee on Economic
Development
FROM: John Keel, Director, Legislative Budget Board
IN RE: HB3029 by Oliveira (Relating to the projects of certain
industrial development corporations and the taxes levied
for those projects.), As Introduced
**************************************************************************
* No significant fiscal implication to the State is anticipated. *
* *
* The bill would make no appropriation but could provide the legal *
* basis for an appropriation of funds to implement the provisions of *
* the bill. *
**************************************************************************
Because the state is constitutionally prohibited from imposing a state
property tax, there would be no direct fiscal impact on the state;
however, Section 403.302 of the Government Code requires the Comptroller
to conduct a study of the total taxable value for each school district.
Total taxable value is an element in the state's school funding formula.
Passage of the bill could cause a change in the school district taxable
values reported to the Commissioner of Education by the Comptroller.
Local Government Impact
No significant fiscal implication to units of local government is
anticipated. However, the bill could reduce the amount of property
available to school districts for taxation because it creates additional
property tax exemptions relating to industrial development corporations.
Source Agencies: 480 Department of Economic Development, 304
Comptroller of Public Accounts
LBB Staff: JK, TH, DP