LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 77th Regular Session April 6, 2001 TO: Honorable Rene Oliveira, Chair, House Committee on Ways & Means FROM: John Keel, Director, Legislative Budget Board IN RE: HB3019 by Chisum (Relating to the eligibility for ad valorem tax abatement of property that is the subject of a voluntary cleanup agreement.), As Introduced ************************************************************************** * No fiscal implication to the State is anticipated. * ************************************************************************** The bill would amend Section 312.211 of the Tax Code, relating to the eligibility for property tax abatement of property subject to a voluntary cleanup agreement. The bill would repeal the requirement that, to qualify for a municipal property tax abatement through a voluntary cleanup agreement, the value of real property must be adversely affected by the release of a hazardous substance or contaminant according to the two preceding appraisals. The bill would not affect school district property values reported to the Commissioner of Education by the Comptroller of Public Accounts, therefore the impact would be limited to cities. Local Government Impact The bill could affect taxable values in cities choosing to enter into an abatement agreement relating to property that would not currently qualify for consideration. Tax revenue losses to cities would depend on the number of abatement agreements entered into and the taxable value of property subject to the agreement. Source Agencies: 304 Comptroller of Public Accounts LBB Staff: JK, SD, WP, BR