TO: | Honorable Steve Ogden, Chair, Senate Committee on Finance |
FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
IN RE: | SB222 by Zaffirini (Relating to exempting books purchased by university and college students from the sales tax for a limited period.), As Introduced |
Fiscal Year | Probable Revenue Gain/(Loss) from GENERAL REVENUE FUND 1 |
Probable Revenue Gain/(Loss) from Cities |
Probable Revenue Gain/(Loss) from Transit Authorities |
Probable Revenue Gain/(Loss) from Counties/SPDs |
---|---|---|---|---|
2005 | ($3,606,000) | $0 | $0 | $0 |
2006 | ($23,416,000) | ($4,362,000) | ($1,500,000) | ($543,000) |
2007 | ($25,091,000) | ($4,674,000) | ($1,608,000) | ($582,000) |
2008 | ($26,888,000) | ($5,009,000) | ($1,723,000) | ($623,000) |
2009 | ($28,816,000) | ($5,368,000) | ($1,847,000) | ($668,000) |
2010 | ($30,893,000) | ($5,755,000) | ($1,980,000) | ($716,000) |
Fiscal Year | Probable Revenue Gain/(Loss) from GENERAL REVENUE FUND 1 |
Probable Revenue Gain/(Loss) from Cities |
Probable Revenue Gain/(Loss) from Transit Authorities |
Probable Revenue Gain/(Loss) from Counties/SPDs |
---|---|---|---|---|
2006 | ($11,708,000) | ($2,181,000) | ($750,000) | ($271,000) |
2007 | ($25,091,000) | ($4,674,000) | ($1,608,000) | ($582,000) |
2008 | ($26,888,000) | ($5,009,000) | ($1,723,000) | ($623,000) |
2009 | ($28,816,000) | ($5,368,000) | ($1,847,000) | ($668,000) |
2010 | ($30,893,000) | ($5,755,000) | ($1,980,000) | ($716,000) |
The bill would amend Chapter 151 of the Tax Code to exempt books from the sales tax if they are purchased by a student enrolled at an institution of higher education and the sales take place within a specified three-day period each January and August.
A person could establish eligibility for the exemption by presenting a valid student identification card.
The bill would take effect July 1, 2005, assuming that it received the requisite two-thirds majority votes in both houses of the Legislature. Otherwise, it would take effect October 1, 2005.
Source Agencies: | 304 Comptroller of Public Accounts
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LBB Staff: | JOB, SD, WP, SM
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