TO: | Honorable Mark Strama, Chair, House Committee on Technology, Economic Development & Workforce |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | HB270 by Brown, Fred (Relating to the definition of qualified employee for purposes of the enterprise zone program.), As Introduced |
Estimated Two-year Net Impact to General Revenue Related Funds
for HB270, As Introduced: a negative impact of ($45,818,000) through the biennium ending August 31, 2011.Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2010 | ($22,403,000) |
2011 | ($23,415,000) |
2012 | ($24,616,000) |
2013 | ($25,780,000) |
2014 | ($26,954,000) |
Fiscal Year | Probable Revenue Gain/(Loss) from General Revenue Fund 1 |
---|---|
2010 | ($22,403,000) |
2011 | ($23,415,000) |
2012 | ($24,616,000) |
2013 | ($25,780,000) |
2014 | ($26,954,000) |
The bill would amend the definition of qualified employee as it relates to the Enterprise Zone program by removing the requirement that a qualified employee perform at least 50 percent of services for the business at the qualified business site.
The bill would allow a qualified business to include all employees, regardless of where they perform their services, in its determination of created and retained jobs for use in calculating the amount of sales tax refund for which the qualified business is eligible under the Enterprise Zone program and the Comptroller of Public Accounts indicates there would be a probable revenue loss of $45,818,000 during the 2010-11 biennium and a probable five year revenue loss of $123,168,000 from General Revenue Fund 001.
Source Agencies: | 301 Office of the Governor, 304 Comptroller of Public Accounts
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LBB Staff: | JOB, JRO, MS, BTA
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