Relating to a deduction from the amount of taxable sales used to calculate the amount of sales and use taxes that the owners of restaurants that participate in an oyster shell recycling program are required to remit to the comptroller of public accounts.
Impact
This bill represents a significant change to the Texas Tax Code by providing financial incentives to businesses engaging in environmentally friendly practices. It reflects a growing recognition of the need for legislation that supports sustainability efforts, particularly within industries heavily reliant on natural resources and ecosystems. By granting tax deductions to participating restaurants, the state potentially reduces their financial burden while promoting conservation efforts.
Summary
House Bill 3487 aims to introduce a tax deduction for restaurateurs who participate in an oyster shell recycling program. Specifically, the bill allows owners of food service establishments to deduct $2 for each 50 pounds of oyster shells collected and provided to a qualifying recycling project from their taxable sales. This is intended to encourage sustainable practices within the restaurant industry and help mitigate waste through recycling efforts, emphasizing the importance of environmental stewardship.
Sentiment
The sentiment around HB 3487 appears generally positive, particularly among stakeholders within the hospitality and environmental sectors. Proponents praise the bill for supporting initiatives aimed at reducing environmental impact and fostering a culture of recycling. However, there may be some hesitance regarding adherence to new regulations associated with the program and the administrative burden it could impose on small businesses.
Contention
One notable point of contention discussed during deliberations is the question of what qualifies as a 'qualified oyster shell recycling program.' The bill calls for oversight by the comptroller and potential consultation with the Parks and Wildlife Department, raising concerns about the criteria and administrative processes involved. Some legislators voiced concerns over the potential limitations and interpretations of qualified programs, which could impact eligible restaurants and their ability to benefit from the tax deductions offered by this legislation.
Texas Constitutional Statutes Affected
Tax Code
Chapter 151. Limited Sales, Excise, And Use Tax
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Health And Safety Code
Chapter 437. Regulation Of Food Service Establishments, Retail Food Stores, Mobile Food Units, And Roadside Food Vendors
Relating to state savings achieved through a budget savings program administered by the comptroller of public accounts making an appropriation of a portion of those savings.
Relating to the authority of the comptroller of public accounts to issue certain payments to persons who are indebted or delinquent in taxes owed to the state and to state agency reporting requirements regarding such persons.
Relating to the establishment of the Education Savings Account Program to allow certain children to use public money to pursue educational alternatives to public schools and an insurance premium tax credit for contributions made for purposes of that program.