| TO: | Honorable Fred Hill, Chair, House Committee on Local Government Ways & Means |
| FROM: | John S. O'Brien, Director, Legislative Budget Board |
| IN RE: | HB264 by Phillips (Relating to the procedure for rendering certain property for ad valorem taxation if the information contained in the most recently filed rendition statement continues to be accurate.), As Introduced |
The bill would amend Sections 22.01 and 22.24 of the Tax Code to allow a person to comply with the personal property rendition requirements by filing a rendition statement with the appraisal district on a form approved by the Comptroller indicating that the information on the most recently filed rendition statement continued to be accurate.
The portion of the bill that would require the Comptroller to prescribe a new rendition form would take effect September 1, 2007. The rendition filing portion of the bill would take effect January 1, 2008.
Because the state is constitutionally prohibited from imposing a state property tax, there would be no direct fiscal impact on the state.
Current law requires an owner, his or her fiduciary, or agent to annually file with the appraisal district a personal property rendition statement containing specific statutory information on the property. This bill would allow the filing of a statement indicating that nothing had changed from the most recently filed statements.
No significant fiscal implication to units of local government is anticipated.
Passage of the bill could have the effect of requiring some appraisal districts to verify the proposed statements for accuracy relative to the information contained in previous rendition statements.
| Source Agencies: | 304 Comptroller of Public Accounts
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| LBB Staff: | JOB, CT
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