| TO: | Honorable Jim Keffer, Chair, House Committee on Ways & Means |
| FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
| IN RE: | HB784 by Bohac (Relating to providing tax relief and protection for ad valorem tax payers.), As Introduced |
Comptroller of Public Accounts
Dynamic Fiscal Note Analysis
For:
HB 784 by BohacDate: March 15, 2005
I. Revenue Impact Analysis, 2006-2010
|
Fiscal Year |
Gain/(Loss) in Tax Revenue |
General Revenue Dynamic Feedback Revenue Effect |
Net Gain/(Loss) to Tax Collections |
|
2006 |
$0 |
$0 |
$0 |
|
2007 |
0 |
5,714,000 |
5,714,000 |
|
2008 |
(351,157,000) |
13,498,000 |
(337,659,000) |
|
2009 |
(422,905,000) |
18,517,000 |
(404,388,000) |
|
2010 |
(465,998,000) |
25,230,000 |
(440,768,000) |
II. Economic Impact Analysis, 2006-2010
|
Fiscal Year |
Increase/(Decrease) in Texas Personal Income |
Increase/(Decrease) in Texas Investment |
Increase/(Decrease) in Texas Employment |
|
2006 |
$0 |
$0 |
$0 |
|
2007 |
246,900,000 |
175,409,000 |
6,400 |
|
2008 |
405,800,000 |
319,999,000 |
9,400 |
|
2009 |
543,000,000 |
429,123,000 |
11,600 |
|
2010 |
653,500,000 |
502,648,000 |
13,000 |
III. Economic Implications after Ten Years in 2015
|
Personal Income |
$1,059,000,000 |
|
Investment |
$ 669,619,000 |
|
Employment |
16,400 |
IV. Methodology
A Texas-specific general equilibrium model was used in calculating the dynamic effects. The model distributes the savings/losses that would otherwise have been experienced by businesses and consumers among the state's economic sectors. The revenue feedback calculation was based on the historical relationship between state tax revenues and associated economic factors.
| Source Agencies: | 304 Comptroller of Public Accounts
|
| LBB Staff: | JOB, SD, SJS
|