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A BILL TO BE ENTITLED
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AN ACT
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relating to a report regarding the fiscal effects of inflation or |
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deflation on certain dollar amounts specified in state statute. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter B, Chapter 403, Government Code, is |
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amended by adding Section 403.0144 to read as follows: |
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Sec. 403.0144. REPORT ON FISCAL EFFECTS OF INFLATION OR |
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DEFLATION ON DOLLAR AMOUNTS SPECIFIED IN STATE STATUTE. (a) In |
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this section, "consumer price index" means a consumer price index |
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published by the Bureau of Labor Statistics of the United States |
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Department of Labor that the comptroller determines most accurately |
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reports changes in the purchasing power of the dollar for consumers |
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in this state. |
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(b) The comptroller shall maintain a list of each dollar |
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amount specified in state statute that: |
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(1) is a tax, or is the rate of a tax, imposed by this |
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state; |
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(2) is a fee that, during the preceding state fiscal |
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year, generated more than $1 million in revenue to this state or a |
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political subdivision of this state; |
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(3) is a fine that may be assessed against a person; |
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(4) is used to determine the applicability to a person |
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of: |
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(A) a tax imposed by this state or an exemption |
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from the tax; |
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(B) a fee imposed by this state or a political |
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subdivision of this state or an exemption from the fee; or |
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(C) an offense or a criminal or civil penalty; |
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(5) is used to determine the applicability of an |
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exemption, discount, exclusion, special valuation, special |
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accounting treatment, special rate, or special method of reporting |
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that is the subject of the report under Section 403.014; or |
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(6) the comptroller determines is relevant to a dollar |
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amount described by Subdivisions (1)-(5). |
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(c) Not later than November 1 of each even-numbered year, |
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the comptroller shall: |
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(1) determine the inflation-adjusted amount of each |
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dollar amount identified in the list maintained under Subsection |
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(b) by determining the sum of: |
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(A) the identified dollar amount; and |
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(B) an amount equal to the product of that dollar |
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amount and the average 12-month percentage change in the consumer |
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price index during the period beginning on the date the statute |
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specifying that dollar amount was enacted or last amended and |
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ending on the last day of the preceding state fiscal biennium; |
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(2) estimate the fiscal effects the |
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inflation-adjusted amounts determined under Subdivision (1) would |
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have had on this state and political subdivisions of this state if |
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those amounts had applied during the preceding state fiscal |
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biennium, including the fiscal effects, if any, during that period |
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on: |
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(A) the amount of revenue received by this state |
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and political subdivisions of this state; and |
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(B) the costs incurred by this state as a result |
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of the incarceration of individuals; and |
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(3) prepare and submit a report to the legislature and |
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the governor that includes the information described by |
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Subdivisions (1) and (2). |
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(d) The report may be included in any other report made by |
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the comptroller. |
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(e) The comptroller may request from any state officer or |
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agency information necessary to complete the report. Each state |
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officer or agency shall cooperate with the comptroller in providing |
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information or analysis for the report. |
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SECTION 2. This Act takes effect September 1, 2021. |