TO: | Honorable Jim Keffer, Chair, House Committee on Ways & Means |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | HB1000 by Burnam (Relating to exemptions from the sales tax for certain energy efficient products for a limited period.), As Introduced |
The table below assumes an effective date of July 1, 2007.
Fiscal Year | Probable Revenue Gain/(Loss) from GENERAL REVENUE FUND 1 |
Probable Revenue Gain/(Loss) from Cities |
Probable Revenue Gain/(Loss) from Transit Authorities |
Probable Revenue Gain/(Loss) from Counties |
---|---|---|---|---|
2007 | ($1,782,000) | $0 | $0 | $0 |
2008 | ($6,772,000) | ($1,300,000) | ($446,000) | ($168,000) |
2009 | ($7,039,000) | ($1,352,000) | ($464,000) | ($174,000) |
2010 | ($7,322,000) | ($1,406,000) | ($482,000) | ($181,000) |
2011 | ($7,585,000) | ($1,456,000) | ($500,000) | ($188,000) |
2012 | ($7,858,000) | ($1,509,000) | ($518,000) | ($195,000) |
The table below assumes an effective date of October 1, 2007.
Fiscal Year | Probable Revenue Gain/(Loss) from GENERAL REVENUE FUND 1 |
Probable Revenue Gain/(Loss) from Cities |
Probable Revenue Gain/(Loss) from Transit Authorities |
Probable Revenue Gain/(Loss) from Counties |
---|---|---|---|---|
2008 | ($6,367,000) | ($867,000) | ($297,000) | ($112,000) |
2009 | ($7,039,000) | ($1,352,000) | ($464,000) | ($174,000) |
2010 | ($7,322,000) | ($1,406,000) | ($482,000) | ($181,000) |
2011 | ($7,585,000) | ($1,456,000) | ($500,000) | ($188,000) |
2012 | ($7,858,000) | ($1,509,000) | ($518,000) | ($195,000) |
The bill would amend Chapter 151 of the Tax Code to create a sales tax exemption for certain energy-efficient products sold during the current sales tax holiday for clothing and footwear, a period beginning on the last Saturday preceding the last Monday in May, or during a period around July 4.
The bill would require that the exempted energy-efficient products must be designated as Energy Star qualified products by the U.S. Department of Energy and purchased for noncommercial home or personal use; and would include clothes washers, ceiling fans, dehumidifiers, dishwashers, incandescent or fluorescent lightbulbs, programmable thermostats, and refrigerators with a sales price not exceeding $2,000, as well as air conditioners with a sales price not exceeding $6,000.
The bill would take effect July 1, 2007 if it receives two-thirds majority votes in each house; otherwise, it would take effect October 1, 2007.
The estimate provided by the Comptroller of Public Accounts is based on gathered data from the U.S. Department of Energy on the sale of the specified energy efficient products. For the purpose of this analysis, the Comptroller adjusted sales data to reflect sales made in
Source Agencies: | 304 Comptroller of Public Accounts
|
LBB Staff: | JOB, CT, SD, EB
|