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Substitute the following for the Coleman amendment:
SECTION__. SPECIAL REPORT ON EFFECT OF CERTAIN TAX POLICIES
ON PERSONAL INCOME AND BUSINESS. No later than October 15, 2006,
the Comptroller of Public Accounts shall submit a report to the
governor and each member of the legislature providing a
comprehensive analysis of the effect of certain tax policies on
personal income and business. The report shall be updated before
October 15, 2008. The report shall include, at a minimum, the
following:
(a) The total amount of business taxes collected under
Article 2 of this Act;
(b) A profile of the businesses paying the reformed
franchise tax by the number of employees, the two-digit standard
industrial classification, the amount of total wages and taxable
wages, the total amount of taxes paid, any credits used to reduce
tax liability, the percentage of taxes paid by companies with fewer
than 100 employees, and an estimate of the number and wages of
workers not covered by the tax;
(c) A tax incidence analysis by industry sector and family
income level of the limitation on school districts tax rates
contained in this Act, the changes in business taxation contained
in Article 2 of this Act, the increase in the rate of the sales tax
on the sales tax base as that base existed prior to the effective
date of this Act, each sales tax exemption or exclusion repealed by
this Act; the increase in the rate of the motor vehicle sales and
use tax contained in this Act, the increase in the rate of the boat
and motor boat sales tax contained in this Act, the tax on
discretionary food and drink items contained in this Act, the
increase in rates of the cigarette and tobacco products taxes
contained in this Act, and the changes in the Telecommunications
Infrastructure Fund contained in this Act.
(d) An analysis by income level of Texans who itemize their
federal income taxes and the amount of state sales taxes deducted
from federal income taxes by income level and the amount of
deductions lost due to property tax rate reductions required by
this Act.