TO: | Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce |
FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
IN RE: | SB918 by Gallegos (Relating to a license fee exemption for certain certified public accountants.), As Introduced |
Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2006 | ($180,000) |
2007 | ($180,000) |
2008 | ($180,000) |
2009 | ($180,000) |
2010 | ($180,000) |
Fiscal Year | Probable Revenue (Loss) from GENERAL REVENUE FUND 1 |
Probable Revenue (Loss) from FOUNDATION SCHOOL FUND 193 |
---|---|---|
2006 | ($135,000) | ($45,000) |
2007 | ($135,000) | ($45,000) |
2008 | ($135,000) | ($45,000) |
2009 | ($135,000) | ($45,000) |
2010 | ($135,000) | ($45,000) |
The bill would amend the Occupations Code relating to a license fee exemption from the $200 professional fee for certain Certified Public Accountants (CPA) specified in the bill. The bill would reduce revenues collected from CPAs that are exempted from paying the fee. Under current law, $50 of the $200 professional fee is deposited to the Foundation School Fund Account No.193 and $150 is deposited to General Revenue Fund.
The bill would take effect immediately upon receiving a two-thirds majority vote in each house. If the bill does not receive a two-thirds majority vote in each house, the bill would take effect September 1, 2005.
The Board of Public Accountancy estimates that 900 local government Certified Public Accountants (CPA) would fall into the exempt category. Based on the number of applicants estimated by the agency, it is assumed that 900 CPAs would not pay the $200 fee beginning in fiscal year 2006. The agency estimates a net revenue loss of $180,000 each year for the fee that would no longer be collected, which would include a loss of $45,000 to the Foundation School Fund Account No.193 and $135,000 to the General Revenue Fund.
Source Agencies: | 304 Comptroller of Public Accounts, 457 Board of Public Accountancy
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LBB Staff: | JOB, JRO, MW, BC
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