| TO: | Honorable John Carona, Chair, Senate Committee on S/C on Emerging Technologies & Economic Dev. |
| FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
| IN RE: | SB559 by Brimer (Relating to the limitation on appraised value of certain property under the Texas Economic Development Act and to the continuation of that Act.), As Introduced |
Comptroller of Public Accounts
Dynamic Fiscal Note Analysis
For: SB 559 by Brimer
Date: March 4, 2005
I. Revenue Impact Analysis, 2006-2010
|
Fiscal Year |
Gain/(Loss) in State Tax Revenue |
General Revenue Dynamic Feedback Revenue Effect |
Net Gain/(Loss) to Tax Collections |
|
2006 |
$0 |
$0 |
$0 |
|
2007 |
0 |
0 |
0 |
|
2008 |
0 |
0 |
0 |
|
2009 |
0 |
1,928,000 |
0 |
|
2010 |
(266,000,000) |
4,683,000 |
(261,317,000) |
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 |
0 |
0 |
0 |
|
2008 |
0 |
0 |
0 |
|
2009 |
83,560,000 |
22,130,000 |
2,000 |
|
2010 |
158,100,000 |
45,442,000 |
3,400 |
III. Economic Implications after Ten Years in 2015
|
Personal Income |
$598,500,000 |
|
Investment |
$152,340,000 |
|
Employment |
9,500 |
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, SJS
|