TO: | Honorable Steve Ogden, Chair, Senate Committee on Finance |
FROM: | John S O'Brien, Director, Legislative Budget Board |
IN RE: | SB268 by Uresti (Relating to the distribution, possession, purchase, consumption, receipt, and taxation of tobacco products; providing penalties.), As Introduced |
Estimated Two-year Net Impact to General Revenue Related Funds for SB268, As Introduced: a negative impact of ($12,109,000) through the biennium ending August 31, 2013.
Additionally, the bill will have a direct impact of a revenue gain to the Property Tax Relief Fund of $19,971,000 for the 2012-13 biennium. Any gain to the Property Tax Relief Fund will free up General Revenue of the same amount.
Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2012 | ($5,675,000) |
2013 | ($6,434,000) |
2014 | ($6,125,000) |
2015 | ($6,211,000) |
2016 | ($5,717,000) |
Fiscal Year | Probable Revenue Gain/(Loss) from General Revenue Fund 1 |
Probable Revenue Gain/(Loss) from Property Tax Relief Fund 304 |
Probable Revenue Gain/(Loss) from Physician Ed. Loan Repayment 5144 |
---|---|---|---|
2012 | ($5,675,000) | $9,121,000 | ($625,000) |
2013 | ($6,434,000) | $10,850,000 | ($679,000) |
2014 | ($6,125,000) | $9,431,000 | ($686,000) |
2015 | ($6,211,000) | $10,349,000 | ($669,000) |
2016 | ($5,717,000) | $8,947,000 | ($656,000) |
The bill would amend Chapter 161 of the Health and Safety Code to increase the legal age for the sale, distribution, possession, purchase, consumption, or receipt of cigarettes or tobacco products from 18 to 19 years of age. Section 161.455, regarding requirements for a person mailing or shipping cigarettes in connection with a delivery sale order, would be repealed.
The bill would amend Chapter 154 of the Tax Code to increase the tax rate on cigarettes weighing three pounds or less per thousand cigarettes to $71.50 per thousand cigarettes ($1.43 per pack of 20 cigarettes) from $70.50 per thousand cigarettes ($1.41 per pack).
Source Agencies: | 304 Comptroller of Public Accounts
|
LBB Staff: | JOB, KK, SD, AG
|