Honorable Dustin Burrows, Chair, House Committee on Ways & Means
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
HB3253 by Rodriguez (Relating to a study regarding ad valorem tax relief through the use of a circuit breaker program.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would require the Comptroller of Public Accounts to conduct a study to examine circuit breaker programs as a means of expanding and protecting the homestead interests of low-income and moderate-income families. A "circuit breaker program" is defined in the bill as a program that limits the amount of ad valorem taxes that may be imposed on a residence homestead based on the owner's annual income. A report of the study's findings would be due to certain state leadership not later than December 1, 2020 .The Comptroller indicates there would be a cost associated with conducting the study; this analysis assumes the cost could be absorbed within existing resources.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.