LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 77th Regular Session May 24, 2001 TO: Honorable James E. "Pete" Laney, Speaker of the House, House of Representatives FROM: John Keel, Director, Legislative Budget Board IN RE: HB1392 by Keffer (Relating to certain ad valorem tax exemptions.), As Passed 2nd House ************************************************************************** * No significant fiscal implication to the State is anticipated. * ************************************************************************** The bill would amend Section 11.43 and repeal Section 11.182(c) of the Tax Code to change the exemption application for Community Housing Development Organizations (CHDO) to a one-time application. Under current law, the application must be filed annually. To supplement the one-time application process, the bill would require a CHDO to file with the chief appraiser a list of properties acquired or sold during the preceding year. The list would have to be provided on a form promulgated by the Comptroller and it would be due by March 31 of each year. The number of eligible organizations not currently utilizing an exemption because of not re-applying is unknown. Likewise, the number of organizations that might lose their eligibility but keep the exemption, because of the proposed one-time application process, cannot be predicted. However, under section 11.43 (c) of the Tax Code, the chief appraiser may require a person allowed the exemption in a prior year to file a new application to confirm their current qualification for the exemption. Therefore, due to this provision, no significant fiscal implication to the State or units of local government is anticipated. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies: 304 Comptroller of Public Accounts LBB Staff: JK, DB, BR