By: King of Taylor (Senate Sponsor - Uresti) H.B. No. 1261

(In the Senate - Received from the House April 27, 2015; May 7, 2015, read first time and referred to Committee on Finance; May 14, 2015, reported favorably by the following vote: Yeas 14, Nays 0; May 14, 2015, sent to printer.) Click here to see the committee vote

A BILL TO BE ENTITLED

AN ACT

relating to the comptroller's report on the effect of certain tax provisions.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Section 403.014, Government Code, is amended by adding Subsection (a-1) to read as follows:

(a-1) In preparing the report under Subsection (a), if actual data is not available, the comptroller shall use available statistical data to estimate the effect of an exemption, discount, exclusion, special valuation, special accounting treatment, special rate, or special method of reporting relating to a tax. If the report states that the effect of a particular tax preference cannot be determined, the comptroller must include in the report a complete explanation of why the comptroller reached that conclusion.

SECTION 2. This Act takes effect September 1, 2015.

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