TO: | Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce |
FROM: | John Keel, Director, Legislative Budget Board |
IN RE: | HB849 by Talton (relating to the regulation of tow trucks, to the authority of a political subdivision of this state to regulate tow trucks, and to insurance for commercial motor vehicles; providing penalties. ), Committee Report 2nd House, Substituted |
Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2004 | $421,980 |
2005 | $204,180 |
2006 | $204,180 |
2007 | $204,180 |
2008 | $204,180 |
Fiscal Year | Probable Revenue Gain/(Loss) from GENERAL REVENUE FUND 1 |
---|---|
2004 | $421,980 |
2005 | $204,180 |
2006 | $204,180 |
2007 | $204,180 |
2008 | $204,180 |
TXDOT anticipates that revenue generated as a result of increasing the annual vehicle fee by $15 (from the current $10 to the proposed $25) and as a result of additional insurance filing fees are as follows: 7,986 vehicles X $15 increase per vehicle = $119,790 annually, 7,986 vehicles X $15 X 25 percent Fleet Turnover = $29,940 annually, and 2,178 carriers X 25 percent (current percent of carriers who make multiple annual insurance filings with fees) X $100 filing fee = $54,450 annually, and 2,178 carriers X $100 insurance filing fee = $217,800 for only fiscal year 2004.
Based on the analysis of TXDOT, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
The bill takes effect September 1, 2003.
Source Agencies: | 601 Department of Transportation
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LBB Staff: | JK, JRO, RT, DE, KG
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