TO: | Honorable Rene Oliveira, Chair, House Committee on Ways & Means |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | HB2945 by Harper-Brown (Relating to the total revenue exemption from the franchise tax.), As Introduced |
The bill will have a direct impact of a revenue loss to the Property Tax Relief Fund of $85,000,000 for the 2010-11 biennium. Any loss to the Property Tax Relief Fund will have to be made up with General Revenue of the same amount to fund property tax relief.
Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2010 | $0 |
2011 | $0 |
2012 | $0 |
2013 | $0 |
2014 | $0 |
Fiscal Year | Probable Revenue Gain/(Loss) from Property Tax Relief Fund 304 |
---|---|
2010 | ($85,000,000) |
2011 | $0 |
2012 | $0 |
2013 | $0 |
2014 | $0 |
The bill would amend Chapter 171 of the Tax Code, regarding the franchise tax.
The bill would temporarily change the total revenue exemption amount for the tax from $300,000 or less to $1,000,000 or less.
The bill's provision would affect franchise tax reports due during calendar 2010, and would expire on January 1, 2011.
The bill would take effect January 1, 2010.
Source Agencies: | 304 Comptroller of Public Accounts
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LBB Staff: | JOB, MN, SD
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