LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 77th Regular Session April 19, 2001 TO: Honorable Rene Oliveira, Chair, House Committee on Ways & Means FROM: John Keel, Director, Legislative Budget Board IN RE: HB3049 by Ramsay (Relating to the use of interest earned on motor vehicle inventory tax escrow accounts.), Committee Report 1st House, Substituted ************************************************************************** * No fiscal implication to the State is anticipated. * ************************************************************************** The bill would prohibit interest earned on motor vehicle inventory tax escrow accounts from being used to supplement the salary or personal expenses of a county tax assessor-collector. Currently, county tax assessors-collectors are allowed to retain any interest generated by motor vehicle inventory tax escrow accounts to defray the cost of administering the tax prepayment program. According to the Tax Assessors-Collectors Association of Texas, some county tax assessors-collectors use the money to buy equipment, such as computers, and others use it to supplement the salaries of employees. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies: 304 Comptroller of Public Accounts LBB Staff: JK, SD, BR