TO: | Honorable Tom Craddick, Speaker of the House, House of Representatives |
FROM: | John Keel, Director, Legislative Budget Board |
IN RE: | HB1 by Grusendorf (Relating to public education, public school finance, and related matters, including certain new or modified taxes and fees, the authorization of a state video lottery system, and other state and local tax and revenue measures to provide sufficient funding for public education and to provide tax relief and protection for taxpayers; providing penalties.), Committee Report 1st House, Substituted |
Comptroller of Public Accounts
Dynamic Fiscal Note Analysis
For: CSHB1 by Grusendorf
Date: May 1, 2004
I. Revenue Impact Analysis, 2005-2009
Fiscal Year |
Gain/(Loss) to General Revenue-Related Funds |
Dynamic Feedback Revenue Effect |
Net Gain/(Loss) to General Revenue-Related Funds |
2005 |
$1,749,110,733 |
$40,606,000 |
$1,789,716,733 |
2006 |
5,133,268,702 |
309,836,000 |
5,443,104,702 |
2007 |
5,354,994,295 |
304,919,000 |
5,659,913,295 |
2008 |
5,501,133,200 |
321,751,000 |
5,822,884,200 |
2009 |
5,816,800,353 |
462,663,000 |
6,279,463,353 |
II. Economic Impact Analysis, 2005-2009
Fiscal Year |
Increase/(Decrease) in Texas Personal Income |
Increase/(Decrease) in Texas Investment |
Increase/(Decrease) in Texas Employment |
2005 |
$392,600,000 |
$3,220,618,000 |
$5,300 |
2006 |
6,978,000,000 |
16,082,424,000 |
161,300 |
2007 |
6,654,000,000 |
14,920,297,000 |
137,300 |
2008 |
6,100,000,000 |
13,528,427,000 |
114,100 |
2009 |
5,205,000,000 |
11,869,516,000 |
88,000 |
III. Economic Implications after 2009
After ten years, in 2014:
Personal Income |
$1,773,000,000 |
Investment |
$7,766,400,000 |
Employment |
19,000 |
IV. Methodology
A Texas-specific general equilibrium model was employed in calculating the economic impacts. The model distributes the savings that would otherwise have been paid by businesses and consumers among the state's economic sectors. The revenue feedback calculation was based on the historical relationship between state tax revenues and associated economic factors.
Source Agencies: | 304 Comptroller of Public Accounts
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LBB Staff: | JK, SD, SJS
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