| TO: | Honorable Tommy Williams, Chair, Senate Committee on Finance |
| FROM: | Ursula Parks, Director, Legislative Budget Board |
| IN RE: | HB1511 by Larson (Relating to the rates of sales and use taxes imposed by municipalities; authorizing an increase or decrease in the rate of those taxes.), As Engrossed |
The bill would amend various sections of the Tax Code and the Local Government code regarding the sales and use tax rate imposed by political subdivisions in the state.
The bill would have no effect on state sales and use tax revenue.
The bill would take effect September 1, 2013.
The bill would allow units of local government to change their sales tax rates in one-eighth of a percent increments as the two percent overall cap is not broken.
| Source Agencies: | 304 Comptroller of Public Accounts
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| LBB Staff: | UP, KK, SD
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