TO: | Honorable Ron Wilson, Chair, House Committee on Ways & Means |
FROM: | John Keel, Director, Legislative Budget Board |
IN RE: | HB1123 by Ritter (Relating to tax refunds.), As Introduced |
Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2004 | $0 |
2005 | $20,000,000 |
2006 | $30,000,000 |
2007 | $40,000,000 |
2008 | $50,000,000 |
Fiscal Year | Probable Savings/(Cost) fromGENERAL REVENUE FUND 1 |
---|---|
2004 | $0 |
2005 | $20,000,000 |
2006 | $30,000,000 |
2007 | $40,000,000 |
2008 | $50,000,000 |
The bill would amend Chapter 111 of the Tax Code to clarify statutes relating to the filing of tax refund claims. It would specify who would be able to file tax refund claims, require the reasons for a refund to be included with a claim, and amend provisions relating to administrative hearings on refund claims and the tolling of limitation periods. It would repeal Section 111.207(d) of the Tax Code, relating to the tolling of limitation periods for tax refunds.
The bill would take effect immediately upon enactment, assuming that it received the requisite two-thirds majority votes in both houses of the Legislature. Otherwise, it would take effect September 1, 2003. The bill only would apply to a claim for a refund made on or after the effective date, without regard to whether the taxes subject to the claim were due before, on, or after that date.
Source Agencies: | 304 Comptroller Of Public Accounts
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LBB Staff: | JK, JO, SD, WP
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