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Amend Amendment No. 51 to CSHB 3 by Chisum as follows:
(1) On page 1, strike lines 2 and 3.
(2) On page 1, line 4, strike (2).
(3) On page 1, between lines 13 and 14, insert the
following:
(b) Before September 1 of each year, the comptroller shall:
(1) determine the amount of exemplary damages that
were paid to the comptroller under Subsection (a) during the
previous calendar year; and
(2) by rule reduce the tax rate that would otherwise
apply under Section 151.051(b), Tax Code, during the state fiscal
year that begins on September 1 of the year in which the
determination under Subdivision (1) is made by an amount that will
result in the sum of the estimated amount of revenue that will be
collected under this section and under Chapter 151, Tax Code,
during the state fiscal year beginning September 1 equaling the
estimated amount of revenue that would otherwise be collected at
the tax rate prescribed by Section 151.051(b).
(c) For purposes of Subsection (b)(2), the estimated amount
of revenue that will be collected in a state fiscal year under this
section is equal to the amount determined under Subsection (b)(1)
before that state fiscal year begins.
(4) On page 1, line 14, strike "(b)" and substitute "(d)".