LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 76th Regular Session
February 11, 1999
TO: Honorable Bill Ratliff, Chair, Senate Committee on Finance
FROM: John Keel, Director, Legislative Budget Board
IN RE: SB148 by Fraser (Relating to exempting certain small
corporations from the franchise tax), As Introduced
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* Two-year Net Impact to General Revenue Related Funds for SB148, As *
* Introduced: negative impact of $(112,157,000) through the *
* biennium ending August 31, 2001. *
* *
* The bill would make no appropriation but could provide the legal *
* basis for an appropriation of funds to implement the provisions of *
* the bill. *
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General Revenue-Related Funds, Five-Year Impact:
****************************************************
* Fiscal Year Probable Net Positive/(Negative) *
* Impact to General Revenue Related *
* Funds *
* 2000 $(54,158,000) *
* 2001 (57,999,000) *
* 2002 (61,457,000) *
* 2003 (65,348,000) *
* 2004 (69,553,000) *
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All Funds, Five-Year Impact:
*****************************************************
* Fiscal Year Probable Revenue Gain/(Loss) from *
* General Revenue Fund *
* 0001 *
* 2000 $(54,158,000) *
* 2001 (57,999,000) *
* 2002 (61,457,000) *
* 2003 (65,348,000) *
* 2004 (69,553,000) *
*****************************************************
Technology Impact
None.
Fiscal Analysis
The bill would exempt corporations with gross receipts of $200,000 or
less from the franchise tax and from tax report filing.
January 1, 2000 would be the effective date for the legislation.
Methodology
The Comptroller's Office provided an estimate of fiscal implications
based an analysis of current franchise taxpayer data.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller Of Pub Accts
LBB Staff: JK, BB, BR, CT