BILL ANALYSIS

Senate Research Center	H.B. 2067
85R8361 GRM-F	By: Oliveira (Nichols)
	Finance
	5/12/2017
	Engrossed

AUTHOR'S / SPONSOR'S STATEMENT OF INTENT

H.B. 2067 amends the Tax Code to make the registration of a related finance company, defined by statute as a person in which at least 80 percent of the ownership is identical to the ownership of a dealer, for purposes of collecting motor vehicle sales, rental, and use taxes effective until cancelled by the registration holder or by the comptroller of public accounts.

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H.B. 2067 repeals Section 152.0475(d), Tax Code, authorizing the comptroller to charge an annual fee not to exceed $1,500 for such a registration.

H.B. 2067 amends current law relating to the registration of a related finance company for purposes of the motor vehicle sales and use tax and repeals the authorization for a fee.

RULEMAKING AUTHORITY

This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.

SECTION BY SECTION ANALYSIS

SECTION 1. Amends Section 152.0475(c), Tax Code, to authorize a related finance company to register, rather than annually register, with the Texas comptroller of public accounts (comptroller) on a form prescribed by the comptroller. Provides that a registration remains in effect until canceled by the registration holder or the comptroller.

SECTION 2. Repealer: Section 152.0475(d) (relating to authorizing the comptroller to charge a certain annual fee for registration), Tax Code.

SECTION 3. Effective date: upon passage or September 1, 2017.