Honorable Eddie Lucio Jr., Chair, Senate Committee on Intergovernmental Relations
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
SB1658 by Watson (Relating to a study and report on the establishment of a franchise tax credit for the development of low income housing.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
The bill relates to a study and report on the establishment of a franchise tax credit for the development of low income housing. The bill directs the Department of Housing and Community Affairs (TDHCA), with assistance from the Texas Comptroller of Public Accounts (CPA) to conduct a study regarding the establishment of a franchise tax credit for the development of low income housing. The bill calls for the agency to provide a report to the legislature of their findings and recommendations no later than September 1, 2016. Based on the analysis of TDHCA and the CPA, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies:
304 Comptroller of Public Accounts, 332 Department of Housing and Community Affairs