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CONCURRENT RESOLUTION
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WHEREAS, The Texas marine industry was placed at a severe |
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disadvantage in July 2010, when Florida instituted a cap on sales |
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and use taxes for boat sales; and |
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WHEREAS, In Florida, the maximum sales or use tax that may be |
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levied against a sale of a boat or vessel is now $18,000; once the |
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sales or use tax is paid, the owner has the right to keep the boat in |
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Florida as long as desired; the Florida Boat-Sales Use Tax Cap |
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legislation, also known as the Florida Maritime Full Employment |
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Act, was included in the larger Jobs for Florida Bill because the |
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state had been losing boat sales and service business and the |
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attendant jobs and revenue to other states and countries offering |
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more favorable sales tax treatment; and |
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WHEREAS, The Florida sales and use tax cap is expected to |
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stimulate sales, especially of boats valued at over $300,000, and |
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to encourage boat buyers and current owners to register, keep, and |
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use their watercraft in the state; according to one estimate, this |
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stimulus will allow Florida to gain an estimated $18.7 million in |
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sales tax revenue while creating more jobs in the marine industry; |
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and |
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WHEREAS, Texas is currently the country's second largest boat |
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sales market, but its sales tax laws discourage the purchase of |
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vessels over 65 feet, and the new sales and use tax cap in Florida |
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gives that state an advantage that is likely to cost the Lone Star |
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State sales, tax revenue, and jobs; and |
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WHEREAS, To remain competitive in the marine services |
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industry, Texas must ensure that its tax policies do not encourage |
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prospective boat buyers to take their business to another state; |
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now, therefore, be it |
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RESOLVED, That the 82nd Legislature of the State of Texas |
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hereby request the lieutenant governor and the speaker of the house |
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of representatives to create a joint interim committee to study tax |
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policy as it relates to boat sales and marine services and to |
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evaluate the competitiveness of the marine services industry in |
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Texas as compared to Florida; and, be it further |
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RESOLVED, That the committee's proceedings and operations be |
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governed by such general rules and policies for joint interim |
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committees as the 82nd Legislature may adopt. |