Honorable Joseph Pickett, Chair, House Committee on Transportation
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB3825 by Landgraf (Relating to the allocation of a portion of certain severance tax revenue to the transportation infrastructure fund.), As Introduced
Estimated Two-year Net Impact to General Revenue Related Funds for HB3825, As Introduced: a negative impact of ($666,883,000) through the biennium ending August 31, 2017.
Fiscal Year
Probable Net Positive/(Negative) Impact to General Revenue Related Funds
2016
($326,767,000)
2017
($340,116,000)
2018
($356,015,000)
2019
($385,466,000)
2020
($407,624,000)
Fiscal Year
Probable Revenue (Loss) from General Revenue Fund 1
Probable Revenue Gain from Transportation Infrastructure Fund 184
2016
($326,767,000)
$326,767,000
2017
($340,116,000)
$340,116,000
2018
($356,015,000)
$356,015,000
2019
($385,466,000)
$385,466,000
2020
($407,624,000)
$407,624,000
Fiscal Analysis
The bill would amend Section 201.404 (natural gas production tax), 202.353 (oil production tax) and 203.152 (sulphur production tax) of the Tax Code to reallocate a portion the revenue from those taxes to the Transportation Infrastructure Fund.
The bill would reduce the General Revenue Fund share of the collections from each of the three taxes from 75 percent to 67.5 percent. The Transportation Infrastructure Fund 0184 would be allocated 7.5 percent of the collections from each of the taxes.
The bill would take effect September 1, 2015.
Methodology
The estimated fiscal impacts are based on the 2016-17 Biennial Revenue Estimate.
This legislation would create or recreate a dedicated account in the General Revenue Fund, create or recreate a special or trust fund either with or outside of the Treasury, or create a dedicated revenue source. The fund, account, or revenue dedication included in this bill would be subject to funds consolidation review by the current Legislature.
Local Government Impact
No fiscal implication to units of local government is anticipated.