LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 76th Regular Session
April 26, 1999
TO: Honorable Bill Ratliff, Chair, Senate Committee on Finance
FROM: John Keel, Director, Legislative Budget Board
IN RE: SB742 by Armbrister (relating to settlement of a claim
for a tax penalty or interest on a tax), Committee Report
1st House, Substituted
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* Estimated Two-year Net Impact to General Revenue Related Fundsfor *
* SB742, Committee Report 1st House, Substituted: negative impact *
* of $(36,354,000) through the biennium ending August 31, 2001. *
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General Revenue-Related Funds, Five-Year Impact:
****************************************************
* Fiscal Year Probable Net Positive/(Negative) *
* Impact to General Revenue Related *
* Funds *
* 2000 $(17,650,000) *
* 2001 (18,704,000) *
* 2002 (19,773,000) *
* 2003 (20,794,000) *
* 2004 (21,676,000) *
****************************************************
All Funds, Five-Year Impact:
*****************************************************
* Fiscal Year Probable Revenue Gain/(Loss) from *
* General Revenue Fund *
* 0001 *
* 2000 $(17,650,000) *
* 2001 (18,704,000) *
* 2002 (19,773,000) *
* 2003 (20,794,000) *
* 2004 (21,676,000) *
*****************************************************
Fiscal Analysis
The bill would change the definition of "reasonable diligence" for tax
compliance purposes.
Methodology
The Comptroller estimates that the change would result in decreased
compliance with laws relating to remittance of state taxes, creating a
loss of penalty and interest.
Local Government Impact
The Comptroller's estimate showed no loss to units of local government.
Source Agencies: 304 Comptroller of Public Accounts
LBB Staff: JK, BB, RS