LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 80TH LEGISLATIVE REGULAR SESSION

April 5, 2007

TO:	Honorable Jim Keffer, Chair, House Committee on Ways & Means
FROM:	John S. O'Brien, Director, Legislative Budget Board
IN RE:	HJR54 by Hilderbran (Proposing a constitutional amendment authorizing the legislature to exempt from ad valorem taxation one motor vehicle owned by an individual and used in the course of the owner's occupation or profession and also for personal activities of the owner. ), Committee Report 1st House, Substituted

No fiscal implication to the State is anticipated, other than the cost of publication.

The cost to the state for publication of the resolution is $77,468.

The resolution would propose an amendment to Article VIII of the Texas Constitution to authorize the Legislature to exempt from property taxation one passenger car or light truck owned by an individual and used in the course of the owner's occupation or profession and also for the owner's personal activities.

 

Adoption of the proposed amendment, alone, would have no fiscal impact on the state other than the cost of publication. Any loss of revenue would be attributable to the corresponding enabling legislation.

 

The proposed amendment would authorize the Legislature to adopt the exemption applicable to the 2007 tax year.  The proposed amendment would be submitted to voters at an election to be held November 6, 2007.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

304 Comptroller of Public Accounts

LBB Staff:

JOB, CT, SD, SJS