Honorable Jane Nelson, Chair, Senate Committee on Finance
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
SB687 by Perry (Relating to the use of information obtained by a person from the comptroller that relates to a taxpayer subject to an audit by the comptroller.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend Section 111.0075 of the Tax Code, regarding the use of information relating to tax audits.
The bill would change the number of days a person who obtains public information relating to taxpayer audits is required to wait before using the information to solicit business or employment for pecuniary gain from six days to thirty days.
The increased required wait time could result in an increase of violations subject to a civil penalty. The number of increased violations and the penalties assessed as a result of the bill are unknown; therefore, the fiscal impact cannot be determined.
The bill would take effect September 1, 2019.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.