Honorable John Otto, Chair, House Committee on Appropriations
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
HB4034 by Darby (Relating to the dedication of revenue derived from the tax levied on crude petroleum production.), As Introduced
Estimated Two-year Net Impact to General Revenue Related Funds for HB4034, As Introduced: a negative impact of ($3,556,000) through the biennium ending August 31, 2017.
The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill.
Fiscal Year
Probable Net Positive/(Negative) Impact to General Revenue Related Funds
2016
($1,778,000)
2017
($1,778,000)
2018
($1,778,000)
2019
($1,779,000)
2020
($1,781,000)
Fiscal Year
Probable Revenue (Loss) from General Revenue Fund 1
Probable Revenue Gain from Oil & Gas Regulation 5155
2016
($1,778,000)
$1,778,000
2017
($1,778,000)
$1,778,000
2018
($1,778,000)
$1,778,000
2019
($1,779,000)
$1,779,000
2020
($1,781,000)
$1,781,000
Fiscal Analysis
The bill would amend Chapter 81 of the Natural Resources Code, regarding the Railroad Commission of Texas, to direct that collections from the oil regulation tax be deposited to GR Account 5155-Oil and Gas Regulation and Cleanup instead of to the General Revenue Fund.
The bill would take effect September 1, 2015.
Methodology
The fiscal impact analysis is based on the Comptroller's 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.