| TO: | Honorable Steve Ogden, Chair, Senate Committee on Finance |
| FROM: | John S. O'Brien, Director, Legislative Budget Board |
| IN RE: | HB688 by Krusee (Relating to a credit or refund for diesel fuel taxes paid on diesel fuel used in this state by auxiliary power units or power take-off equipment.), As Engrossed |
| Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
|---|---|
| 2008 | ($1,793,000) |
| 2009 | ($2,051,000) |
| 2010 | ($2,138,000) |
| 2011 | ($2,202,000) |
| 2012 | ($2,320,000) |
| Fiscal Year | Probable Revenue Gain/(Loss) from AVAILABLE SCHOOL FUND 2 |
Probable Revenue Gain/(Loss) from STATE HIGHWAY FUND 6 |
|---|---|---|
| 2008 | ($1,793,000) | ($5,379,000) |
| 2009 | ($2,051,000) | ($6,152,000) |
| 2010 | ($2,138,000) | ($6,413,000) |
| 2011 | ($2,202,000) | ($6,606,000) |
| 2012 | ($2,320,000) | ($6,961,000) |
The bill would amend Chapter 162 of the Tax Code to allow a credit or refund of diesel fuel tax paid on diesel fuel used for auxiliary power units or power take-off equipment on any motor vehicle.
The bill would reinstate the auxiliary power unit, power take-off deduction by allowing a license holder to take a credit—or a non-license holder to file a refund claim—for the amount of diesel fuel tax paid on diesel fuel used by an auxiliary power unit or power take-off equipment on any motor vehicle.
This fiscal note is based upon information provided by Comptroller's office staff.
An allowance was made for the additional amount of diesel fuel tax that would be given as a credit or refunded under the provisions of this bill. The estimate for fiscal 2008 was adjusted for the statutory lag in motor fuel tax remittances. The changes in forecast revenues were then subjected to the statutory allocation of diesel fuel taxes.
| Source Agencies: | 304 Comptroller of Public Accounts
|
| LBB Staff: | JOB, SD, CT
|