Honorable Paul Bettencourt, Chair, Senate Committee on Property Tax
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
HB1815 by Sanford (Relating to the deadline for filing an application for an allocation of the value of certain property for ad valorem tax purposes.), As Engrossed
No fiscal implication to the State is anticipated.
The bill would amend Chapter 21 of the Tax Code, regarding taxable situs, to require a person claiming interstate allocation of certain property to file a completed allocation application form before May 1 (rather than before April 1).
The bill would not affect taxable property values, tax rates, collection rates, or any other variable that might affect the revenues of units of local governments or the state.
The bill would take effect January 1, 2020.
Local Government Impact
No fiscal implication to units of local government is anticipated.