SRC-TBR S.B. 1037 77(R)   BILL ANALYSIS


Senate Research Center   S.B. 1037
77R2157 SMJ-DBy: Ellis, Rodney
Finance
3/8/2001
As Filed


DIGEST AND PURPOSE 

Currently, Texas does not have a program that certifies independent
certified public accountants to conduct audits.  As proposed, S.B. 1037
creates a certified audit program to train and certify independent
certified public accountants to conduct tax audits. 

RULEMAKING AUTHORITY

Rulemaking authority is expressly granted to the comptroller of public
account in SECTION 1 (Section 151.0232, Tax Code), of this bill. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Chapter 151B, Tax Code, by adding Section 151.0232, as
follows: 

Sec. 151.0232.  CPA AUDIT PROGRAM. (a)  Authorizes the comptroller by rule
to establish a program in which a taxpayer may hire a certified public
accountant who is not employed by the comptroller to perform an audit to
determine a taxpayer's liability for a tax imposed under this chapter. 

(b)  Requires a program established under Subsection (a) to include certain
requirements. 

(c)  Authorizes the comptroller to waive a penalty or all or part of the
accrued interest on an amount identified to be due as a result of an audit
performed under Subsection (a). 

SECTION 2.  Effective date: upon passage or September 1, 2001.