BILL ANALYSIS |
C.S.H.B. 2114 |
By: Murphy |
Ways & Means |
Committee Report (Substituted) |
BACKGROUND AND PURPOSE
Interested parties assert that the inheritance tax has been practically nonexistent in Texas for nearly ten years and has been gradually phased out until it now only applies to deaths occurring on or after a certain date. The parties also note that revenue collected from the application of the tax is minimal. C.S.H.B. 2114 seeks to eliminate the tax and thereby allow the comptroller of public accounts to more effectively deploy resources currently dedicated to the tax.
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CRIMINAL JUSTICE IMPACT
It is the committee's opinion that this bill does not expressly create a criminal offense, increase the punishment for an existing criminal offense or category of offenses, or change the eligibility of a person for community supervision, parole, or mandatory supervision.
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RULEMAKING AUTHORITY
It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.
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ANALYSIS
C.S.H.B. 2114 repeals Chapter 211, Tax Code, relating to the inheritance tax, and amends the Estates Code to make a conforming change. |
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EFFECTIVE DATE
September 1, 2015.
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COMPARISON OF ORIGINAL AND SUBSTITUTE
While C.S.H.B. 2114 may differ from the original in minor or nonsubstantive ways, the following comparison is organized and formatted in a manner that indicates the substantial differences between the introduced and committee substitute versions of the bill.
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