| TO: | Honorable Ron Wilson, Chair, House Committee on Ways & Means |
| FROM: | John Keel, Director, Legislative Budget Board |
| IN RE: | HB1002 by Thompson (Relating to the repeal of state and local taxes.), As Introduced |
The bill would repeal the provisions of the Tax Code, effective September 1, 2005. The state taxes not repealed that are not deposited to trust accounts include the beer tax, wine tax, liquor tax, ale tax, insurance taxes, and utility taxes.
The overall tax burdens among individuals and businesses would be significantly reduced, and the overall distribution of the remaining taxes would be fundamentally affected.
| Source Agencies: | |
| LBB Staff: | JK, WP, SJS
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