Video & Transcript DataContr Research : 'sales tax incentives'
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TX
Transcript Highlights:
- So literally you would have your constituents going into that retail and paying sales tax, but the sales
- We'll get the sales tax revenues, not San Antonio. And then we'll rebate you 75 percent.
- largest remitters, amounting to over 12% of our annual revenue from sales tax.
- To date, our town has lost over $7 million in local sales tax revenue.
- As part of their acquisition, they became part of this sales tax loophole.
Bills:
HB105, HB982, HB1483, HB1508, HB2575, HB3646, HB3993, HB4083, HB4580, HB4725, HB5169, HB5511, HJR73, HJR102, HJR174, HB3746, HB4240
Keywords:
economic development, job creation, energy, tax incentives, technology investment, ad valorem taxes, elderly, disabled, low-income, tax limitation, homesteads, Texas Tax Code, tax proceeds, horse industry, escalated purse account, agriculture, economic impact, homeowners associations, sales tax exemption, property information
Summary:
The meeting was focused on various legislative discussions, particularly centered around environmental initiatives and tax incentives. Notable discussions occurred regarding HB3746, which aims to grant sales tax exemptions for power generation equipment, a proposal that sparked significant engagement among members. Representative Darby, who championed the bill, emphasized its limited scope and potential benefits to Texas businesses. The session was lively, with members exchanging views on the implications of the bill on the local economy and the environment. Public testimony was invited to weigh in on this matter, further enriching the dialogue.
TX
Transcript Highlights:
- credit and sales tax exemption we currently have.
- This change will allow the current sales tax incentive to continue until it expires on December 31st,
- that are in the current law under franchise law, franchise tax, and sales tax.
- This applies a tax similar to a sales tax on non-residential buildings.
- again through the sales and use tax.
Keywords:
HVAC, tax exemption, energy efficiency, residential heating, installation services, Energy Star, sales tax, HVAC, tax exemption, energy efficiency, residential, installation, Energy Star, sales tax, HVAC, sales tax exemption, residential, energy efficiency, Environmental Protection Agency, HVAC
Summary:
The meeting focused on several key pieces of legislation, including Senate Bills 2018, 2206, and 1901. SB2018 aims to establish a tax credit for businesses contributing to non-profits that promote family stability, while SB2206 proposes a transition in Texas' R&D tax structure to support innovation and small businesses. Each bill drew significant attention and public testimony, highlighting their potential economic impacts and the importance of supporting local communities. Notably, public testimony revealed strong support and concerns regarding SB2206, particularly in relation to new job creation and economic growth versus the need for fiscal responsibility.
TX
Transcript Highlights:
- Not dissimilar to property taxes and those... Similar to sales tax.
- They work very similar to a sales tax.
- You've got to pay to stay at the hotel; it's a sales tax, hotel tax kind of situation.
- Much like the marketplace legislation for sales tax back in 2019, this would help us get more sales tax
- Texas law currently provides a state sales tax and hotel occupancy tax incentive for convention and convention
Keywords:
child care, workforce resources, Texas Workforce Commission, employer support, parental assistance, Senate Bill 529, Midland, economic development, sales tax incentives, job creation, committee certification, public testimony, stakeholder support
Summary:
The meeting of the Senate Economic Development Committee featured substantial discussions around several key bills aimed at advancing various sectors in Texas. Notably, Senate Bill 529 was supported by multiple stakeholders, including the Mayor of Midland, emphasizing its importance in allowing the city to access sales tax incentives that could bolster economic growth. The committee unanimously recommended several bills for certification, indicating a strong consensus among members on the proposed legislation's benefits. The focus on job creation and supporting local economies was prevalent throughout the meeting.
TX
Transcript Highlights:
- House Bill 3486 creates a sales and use tax incentive for restaurants that purchase Texas farm-raised
- Local restaurant owners may deduct $5 from the state sales and use tax liability for every 100 Texas
- tax monthly.
- House Bill 3487 creates a sales and use tax incentive for restaurants participating in the Oyster Shell
- This adds an additional motor vehicle sales tax exemption for trailers that are purchased for the purpose
Keywords:
Texas Future Fund, investment review board, economic stabilization, innovative technology, national defense, retirement, service credit, Employees Retirement System of Texas, employee benefits, pension reform, salary supplement, county judges, judicial functions, state law, government compensation, public retirement systems, municipality pensions, firefighters, police officers, retirement age
Summary:
The committee meeting focused on several house bills, notably those concerning environmental conservation, tax incentives for local businesses, and public safety. Key discussions revolved around HB3486, which introduces a sales and use tax incentive for restaurants purchasing Texas farm-raised oysters. Testimonies highlighted the importance of supporting local oyster farming to mitigate the decline of natural oyster reefs, and several witnesses praised the initiative for its potential environmental benefits. HB2688 also received attention, where representatives emphasized its role in enhancing public safety through improved support for police officers, echoing the community's need for stable recruitment and retention strategies in law enforcement.
TX
Texas 2025 - 89th Regular
Local Government (Part II) May 26th, 2025
Senate Local Government Committee
Keywords:
Lake Houston, dredging, maintenance district, flood control, environment, public works, industrial development, county development districts, bonds, economic incentives, sales tax, human trafficking, hotel regulation, occupancy certificate, municipal authority, law enforcement, recess, Senator Paxson, committee proceedings, local government
Summary:
The meeting appeared to lack substantial content, primarily focusing on procedural matters rather than engaging discussions on specific topics or bills. A motion was made by Senator Paxson to recess the meeting, which was accepted, indicating a brief interruption in proceedings. There were no notable discussions or testimony recorded that highlighted the meeting's purpose or advancements on legislative items. This may have contributed to a less vibrant atmosphere, with minimal public engagement observed.
TX
Texas 2025 - 89th Regular
Local Government (Part I) May 26th, 2025
Senate Local Government Committee
Transcript Highlights:
- an ad valorem tax.
- As I said, similar to a MUD, a MUD has taxing as well as levying fees. Does that include sales tax?
- into it, but any sales tax... it could levy a sales tax.
- The county also could create a county assistance district over this property and levy a sales tax itself
- So if you go the sales tax route, that would prevent any nearby city from ever... we can't override what
Keywords:
Lake Houston, dredging, maintenance district, flood control, environment, public works, industrial development, county development districts, bonds, economic incentives, sales tax, human trafficking, hotel regulation, occupancy certificate, municipal authority, law enforcement, human trafficking, municipal powers, House Bill 5509, due process
Summary:
The Senate Committee on Local Government convened to discuss various important bills, primarily focusing on housing and local governance issues. Significant discussions included House Bill 5509, aimed at enhancing municipal powers against human trafficking by allowing the suspension of hotel occupancy certificates when crimes are suspected. The committee thoroughly reviewed the proposed committee substitutes for several bills, stressing stakeholder input and the importance of due process in legislative changes. Additionally, public testimony highlighted community support for the new amendments designed to ensure safety and welfare, particularly concerning vulnerable populations. House Bill 5663, addressing vital infrastructure needs and associated funding, also received a favorable recommendation from the committee, advancing its path through legislative scrutiny.
TX
Texas 2025 - 89th Regular
Trade, Workforce & Economic Development Apr 15th, 2025 at 10:04 am
House Trade, Workforce & Economic Development Committee
Transcript Highlights:
- would then decide when to hold an election for property owners to have the opportunity to vote on a tax
- Nearly 80% of our property taxes are paid by residential properties.
- industrial and commercial operations to provide residents with well-paying jobs and to broaden the tax
- base to lessen the tax burden on residential properties.
- ...taxes. TPA encourages you to reject this bill.
Bills:
HB2963, HB3005, HB3287, HB3288, HB3289, HB3290, HB3344, HB3712, HB3862, HB3874, HB4196, HB4308, HB4901, HB4984
Keywords:
digital equipment, repair rights, manufacturers, maintenance, consumer rights, construction contracts, payment regulations, public works, dispute resolution, audit procedures, construction, trust funds, mechanic's lien, contractor, subcontractor, residential properties, construction contracts, trust funds, disputes, payment obligations
Summary:
The meeting held by the Committee on Trade, Workforce, and Economic Development involved a variety of discussions centered around multiple bills aimed at improving workforce development and addressing contemporary challenges in digital spaces, particularly concerning youth and technology. A notable point in the meeting was the presentation of HB 4196, which aims to modernize Texas's manufacturing sector through digital integration and automation, enhancing job creation and addressing barriers to innovation. Committee members engaged in extensive dialogue with witnesses advocating for and against various bills, with many emphasizing the importance of balancing innovation with the protection of consumer rights, particularly in the realm of children's safety online.
Committee Chairwoman Button guided the discussions and maintained an efficient pace to cover a considerable number of bills. Several bills passed with bipartisan support, showcasing a collective interest in fostering economic growth through strategic legislative measures. Public testimonies were incorporated into the proceedings, with representatives from various sectors, including education and technology, providing their insights, which enriched the discussions and highlighted community concerns.
TX
Texas 2025 - 89th Regular
Trade, Workforce & Economic Development Apr 15th, 2025 at 10:04 am
House Trade, Workforce & Economic Development Committee
Transcript Highlights:
- would then decide when to hold an election for property owners to have the opportunity to decide on tax
- Nearly 80% of our property tax revenues are paid by residential properties.
- base to lessen the tax burden on residential properties.
- ...taxes. TPA encourages you to reject this bill.
- taxing, testifying on behalf of the Tax Association of
Bills:
HB2963, HB3005, HB3287, HB3288, HB3289, HB3290, HB3344, HB3712, HB3862, HB3874, HB4196, HB4308, HB4901, HB4984
Keywords:
digital equipment, repair rights, manufacturers, maintenance, consumer rights, construction contracts, payment regulations, public works, dispute resolution, audit procedures, construction, trust funds, mechanic's lien, contractor, subcontractor, residential properties, construction contracts, trust funds, disputes, payment obligations
Summary:
The committee meeting covered a wide array of bills focusing primarily on workforce development, manufacturing improvements, and online safety for children. Notably, provisions were discussed under HB4196, aimed at modernizing the manufacturing sector through increased digital integration and automation strategies. Witnesses from various sectors, including manufacturing companies and educational representatives, offered their perspectives on the importance of creating a skilled workforce able to adapt to new technologies. Additional discussion highlighted the pressing need for legislation that protects minors in the digital landscape, with testimonies emphasizing the adverse effects of unfiltered online content on children’s mental health, as encapsulated in HB4901.
TX
Texas 2025 - 89th Regular
Senate SessionReading and Referral of Bills Feb 7th, 2025
Texas Senate Floor Meeting
Transcript Highlights:
- and use taxes, to Finance.
Senate Bill 728 by Johnson, relating to an incentive
- 734 by Menendez, relating to authorizing the possession, use, cultivation, distribution, delivery, sale
- , and sale of cell cultured protein to water, agriculture, and rural affairs.
- Economic and tax incentives to entities that assist, refer,
Bills:
SJR1, SJR2, SJR5, SJR33, SJR34, SJR35, SJR37, SJR38, SJR39, SCR12, SB4, SB40, SB701, SB702, SB703, SB704, SB705, SB706, SB707, SB708, SB709, SB710, SB711, SB712, SB713, SB714, SB715, SB716, SB717, SB718, SB719, SB720, SB721, SB722, SB723, SB724, SB725, SB726, SB727, SB728, SB729, SB730, SB731, SB732, SB733, SB734, SB735, SB736, SB737, SB738, SB739, SB740, SB741, SB742, SB743, SB744, SB745, SB746, SB747, SB748, SB749, SB750, SB751, SB752, SB753, SB754, SB755, SB756, SB757, SB758, SB759, SB760, SB761, SB762, SB763, SB764, SB765, SB766, SB767, SB768, SB769, SB770, SB771, SB772, SB773, SB774, SB775, SB776, SB777, SB778, SB779, SB780, SB781, SB782, SB783, SB784, SB785, SB786, SB787, SB788, SB789, SB790, SB791, SB792, SB793, SB794, SB795, SB796, SB797, SB798, SB799, SB800, SB801, SB802, SB803, SB804, SB805, SB806, SB807, SB808, SB809, SB810, SB811, SB812, SB813, SB814, SB815, SB816, SB817, SB818, SB819, SB820, SB821, SB822, SB823, SB824, SB825, SJR1, SJR2, SJR5, SJR33, SJR34, SJR35, SJR37, SJR38, SJR39, SCR12, SB4, SB40, SB701, SB702, SB703, SB704, SB705, SB706, SB707, SB708, SB709, SB710, SB711, SB712, SB713, SB714, SB715, SB716, SB717, SB718, SB719, SB720, SB721, SB722, SB723, SB724, SB725, SB726, SB727, SB728, SB729, SB730, SB731, SB732, SB733, SB734, SB735, SB736, SB737, SB738, SB739, SB740, SB741, SB742, SB743, SB744, SB745, SB746, SB747, SB748, SB749, SB750, SB751, SB752, SB753, SB754, SB755, SB756, SB757, SB758, SB759, SB760, SB761, SB762, SB763, SB764, SB765, SB766, SB767, SB768, SB769, SB770, SB771, SB772, SB773, SB774, SB775, SB776, SB777, SB778, SB779, SB780, SB781, SB782, SB783, SB784, SB785, SB786, SB787, SB788, SB789, SB790, SB791, SB792, SB793, SB794, SB795, SB796, SB797, SB798, SB799, SB800, SB801, SB802, SB803, SB804, SB805, SB806, SB807, SB808, SB809, SB810, SB811, SB812, SB813, SB814, SB815, SB816, SB817, SB818, SB819, SB820, SB821, SB822, SB823, SB824, SB825
Keywords:
bail denial, illegal aliens, felony offenses, constitutional amendment, law enforcement, bail, felony offenses, criminal justice reform, public safety, constitutional amendment, constitutional amendment, state highway fund, general revenue, transportation, public infrastructure, marriage equality, civil rights, constitutional amendment, Texas Constitution, same-sex marriage
Summary:
The meeting was characterized by a thorough examination of various bills, including SB806, which focuses on providing virtual education as an alternative to expulsion for public school students. The discussions revealed contrasting opinions with some members raising concerns about the implications of such measures on accountability and educational integrity. Additionally, the committee addressed SB815, which relates to the use of artificial intelligence in healthcare, underscoring the increasing integration of technology in legislative frameworks, prompting discussions on privacy and ethical considerations.
TX
Transcript Highlights:
- It does repeal the inefficient sales tax exemption that's in there and applies it back to the R&D sales
- The bill would extend the franchise tax credit, repeal the sales tax exemption, and tie the franchise
- Also, most importantly, for small businesses that would otherwise claim the sales tax exemption, the
- Under current law, certain aircraft maintenance services are subject to state sales and use tax, which
- It exempts sales tax on aircraft parts.
Keywords:
franchise tax credit, research and development, tax incentives, business growth, higher education, hotel occupancy tax, coastal municipalities, beach maintenance, funding allocation, non-discrimination, tax exemption, property tax, homestead, fire damage, constitutional amendment, Senate Bill 2206, research and development, R&D tax credits, SB2779, hotel occupancy tax
Summary:
The meeting of the committee involved extensive discussions on various important pieces of legislation. Notable among them was SB2206, which aims to extend and improve the state's research and development tax credits, ensuring Texas remains competitive in innovation-driven industries. This bill received strong support from the Texas Association of Manufacturers and other stakeholders, emphasizing the need for continued investment in R&D to bolster economic growth and job creation. Additionally, SB2779 was discussed, which focuses on proper allocation and use of hotel occupancy taxes (HOT) for beach maintenance in coastal communities, specifically addressing concerns about the oversight and management of these funds by local park boards.
TX
Transcript Highlights:
- taxes or is it envisioned in this bill to receive an exemption in sales taxes?
- tax sale.
- That's a notice of tax sale that is mailed.
- We like the sales taxes, the property taxes, and everything associated with it.
- Or uses a sales tax dedication.
Bills:
HB19, HB30, HB851, HB1663, HB1681, HB1769, HB1937, HB1979, HB2428, HB2433, HB2825, HB3159, HB3424, HB3486, HB3487, HB3504, HB3605, HB3879, HB3994, HB4382, HB4752, HB5444, HB5446, HB5447, HB3199, HB4847
Keywords:
disaster relief, tax rates, local government, voter-approval tax rate, emergency services, homesteads, tax benefits, appraisal district, property taxes, reporting requirements, diesel fuel, tax credit, auxiliary power units, power take-off equipment, vehicle emissions, tax refund, sales tax, marketplace provider, payment processing, electronic transactions
Summary:
The committee meeting focused heavily on evaluating a series of bills aimed at improving fiscal responsibility and transparency in local government borrowing. A significant discussion centered around HB19, which proposes reforms to debt issuance by local governments. Members expressed concerns that some provisions could hinder local government operations. Some stakeholders acknowledged positive aspects of the proposed reforms but highlighted potential impacts on public safety and ongoing projects due to stricter debt limits. Throughout the meeting, various representatives voiced differing opinions, contributing to a robust dialogue on improving taxpayer protections while ensuring local governments can meet community needs.
TX
Transcript Highlights:
- All cities receive sales tax.
- sales taxes.
- The incentives in the sales tax aspects of it are very important for Longview.
- the 1% municipal sales tax and over $9.4 million from the half-cent sales tax.
- That's the largest sales tax.
Keywords:
sales tax exemption, exotic animals, game animals, agriculture, livestock, motor fuel tax, county exemption, public school, nonprofit, diesel fuel, tax credit, homestead exemption, property tax, spouse, residential properties, ad valorem tax, homestead exemption, property tax, married couples, principal residence
Summary:
The meeting of the committee was dominated by discussions surrounding House Bill 134, which proposes a shift from origin-based sales tax sourcing to destination-based sourcing in Texas. This bill generated significant debate among committee members and witnesses, with several city representatives expressing strong opposition due to the potential financial impact on their municipalities. Concerns were raised that the bill could lead to the loss of millions in sales tax revenue, which is crucial for funding essential services like public safety, infrastructure, and local development initiatives. As the discussion progressed, the chairman emphasized the need for a comprehensive understanding of the bill's implications on all economic stakeholders, while supporters of the bill argued for its potential to streamline tax regulations.
TX
Transcript Highlights:
- , sales taxes, and fees, right?
- So if we think about the city, they got more sales tax than Angleton; we won't hold that against them
- from paying sales taxes and we don't pay sales taxes on other
The Texas sales tax holiday has been a significant
- Including freight and including sales tax.
Bills:
HB511, HB972, HB1035, HB2481, HB2723, HB2742, HB2894, HB2962, HB3077, HB3093, HB3307, HB3684, HJR67, HJR72
Keywords:
ad valorem taxation, caregiver exemption, Medicaid, long-term services, tax relief, assisted living, housing support, property tax exemption, caregiver support, Medicaid, residence homestead, tax relief, long-term services, tax exemption, unpaid caregiver, long-term services, Medicaid, residence homestead, state tax code, tax exemption
Summary:
The meeting of the committee explored various bills with significant discussions centered around House Bills like HB8, HB2723, and HB3093. Members expressed concerns about the financial implications of property tax assessments and the impact of unjust appraisals on local government budgets. Representative Cunningham highlighted the urgency of addressing the discrepancies in property tax laws as they relate to non-profit cemeteries, pointing out historical injustices that have led to the loss of community burial sites. Meanwhile, the discussions on HB3093 revolved around ensuring fair taxation practices to reduce financial uncertainties for local governments, emphasizing the need for realistic revenue calculations in budget projections. The committee actively invited public testimonies, illustrating the widespread interest and implications of these legislative efforts.
TX
Transcript Highlights:
- Specifically, this bill would require businesses that receive incentives
Companies that benefit from publicly funded incentive
- interests in tax-exempt real property and tangible personal property or improvements located on tax-exempt
- The ability for the county to execute the tax abatement.
- Texas tax code.
Keywords:
Texas Constitution, Declaration of Independence, victory or death letter, display, historic preservation, economic development, local workforce, employment vacancies, public assistance, job training, employment services, cross-agency initiative, workforce development, client data, resource optimization, municipal authority, tax revenue, hotel projects, economic development, convention centers
Summary:
The meeting of the Economic Development Committee focused on various bills aimed at enhancing workforce development and economic incentives in Texas. One of the key discussions centered around Senate Bill 2603, which proposed a collaboration between businesses receiving state and local economic development incentives and local workforce development boards to improve job placement outcomes for participants. Public testimony highlighted the importance of connecting job seekers, especially those receiving public assistance, with potential employers to reduce reliance on state support systems. Additionally, Senate Bill 2607 emphasized interagency cooperation to better serve individuals engaged in workforce reentry programs, ensuring streamlined access to vital services.
TX
Transcript Highlights:
The Texas Farm Bureau supports the tax incentives proposed
- tax incentives to grocery stores to encourage development
- tax.
- State law currently exempts residential gas and electricity from those sales taxes, limiting their ability
- utility-based sales tax revenue.
Bills:
HB485, HB1367, HB1370, HB1827, HB1879, HB2032, HB2133, HB2357, HB3581, HB3830, HB4060, HB4085, HB4270, HB4979, HB5217, HB5268, HB5478, HJR96, HJR97, HJR119, HJR195, HJR209, SB4, SB23, SJR2, SJR85
Keywords:
healthcare, insurance, access, affordability, public health, emergency services district, sales tax, gas and electricity, residential use, tax exemption, emergency services, sales tax, gas, electricity, residential use, tax exemption, ad valorem, property tax, residential taxation, local governance
Summary:
The meeting covered several key legislative proposals aimed at enhancing property tax relief and supporting community development initiatives. House Bill 2032, which addresses tax exemptions for disabled veterans, was discussed; the bill proposes a proportional property tax deduction based on disability ratings, helping veterans secure housing stability amidst rising property costs. House Bill 4270 was also introduced to revitalize declining neighborhoods by offering property tax exemptions for young families moving into these areas—an initiative prompted by demographic shifts in urban areas such as El Paso. The discussions emphasized the critical need for fostering sustainable communities and supporting vulnerable populations.
TX
Texas 2025 - 89th Regular
89th Legislative Session Apr 1st, 2025 at 10:00 am
Texas House Floor Meeting
Transcript Highlights:
- Over half of our state revenue comes from sales taxes, making our tax code one of the most regressive
- Everyday Texans pay more in sales taxes, property taxes, and hidden costs from tolls to medical debt,
- ...pay sales tax on essential items like diapers and school
- , gifts, and exchanges from motor vehicle sales and use taxes, for the Committee on Ways and Means.
- for the application of sales and use taxes to certain research and development expenses, for the Committee
Keywords:
occupation tax, securities, financial regulation, tax exemption, legislative amendment, school district, ad valorem tax, local revenue, tax collection, education funding, emergency communication, infrastructure, first responders, grant program, interoperability, Texas Interoperability Council, local governments, sales tax exemption, exotic animals, game animals
Summary:
The meeting focused primarily on H.J.R. 4, a proposed constitutional amendment that aims to prohibit taxes on securities transactions and occupation taxes on securities market operators. Representative Meyer introduced the resolution, explaining its intention to prevent the state legislature from imposing such taxes indefinitely. The proposal received unanimous support from the Ways and Means Committee but faced scrutiny from other members concerned about its implications for equity and taxation in Texas. Key discussions highlighted the potential long-term consequences of locking in tax breaks for wealthier entities, particularly amid rising living costs for ordinary Texans.
TX
Transcript Highlights:
- code in relation to tax exemption for exotic game.
- The bill does a simple clarification that the sales of exotic livestock are not subject to sales and
- use taxes.
- Taxing this fuel as if it were used to propel...
- It dealt with an exemption from certain motor fuel taxes for counties.
Keywords:
diesel fuel tax, tax credit, auxiliary power units, power take-off equipment, refund, energy efficiency, firefighter retirement, municipal contributions, pension system, retirement benefits, funding ratios, sales tax exemption, exotic animals, game animals, agriculture, livestock, firefighter pension reform, tax equity, diesel fuel, auxiliary power units
Summary:
The Senate Finance Committee meeting covered crucial legislative discussions surrounding several important bills, particularly focused on firefighter pension reforms and tax equity for diesel fuel. Senate Bill 771, presented by Senator Hinojosa, seeks to rectify a gap in state tax law regarding tax credits for diesel fuel used in auxiliary power units. The bill drew support from several witnesses who emphasized its importance for maintaining fairness in tax treatment across fuel types. Additionally, House Bill 135, aimed at providing tax exemptions for exotic game sales, was discussed with fervent support from stakeholders within the industry. Public testimonies highlighted the positive economic impact of the bill on rural communities in Texas. The committee also reviewed Senate Bill 2345, another pension-related bill, which showcased collaboration between the city and the firefighters' association.
TX
Transcript Highlights:
- HJR2 by Representative Guerin removes the opportunity for the state to ever consider a death tax, or,
- i.e., transfer tax, or what is better known as a federal level estate tax.
- Since the state repealed the death tax in 2015, Texas has largely ceased collecting it.
- HJR2 amends the Texas Constitution to prohibit the state from enacting a death tax.
- Texas will figure out a way to do it without that kind of tax.
Keywords:
alcohol, taxation, reporting requirements, sales, distribution, death tax, inheritance tax, estate tax, property transfer, constitutional amendment, water fund, Texas water supply, constitutional amendment, state revenue, infrastructure, water infrastructure, HJR7, Texas Water Plan, funding, desalination
Summary:
The meeting focused on HJR7, with substantial discussions surrounding Texas' dire water infrastructure needs and proposed funding allocations. The committee, led by Chairman Perry, emphasized the necessity for a dedicated funding source to address an estimated $154 billion required for both water supply projects and repairing aging infrastructure. Witnesses, including executives from various engineering and environmental organizations, testified about the critical state of Texas' water systems and the anticipated shortfall of 6.8 million acre-feet of water annually by 2070. Testimony highlighted the urgency of implementing strategies such as desalination and flood mitigation to secure Texas' future water resources.
TX
Transcript Highlights:
- The equipment that's needed to do that is being requested for an exemption on sales tax.
- Production to offset the cost of the sales tax exemption
- That is to be compared to our estimate of about $3 billion in total sales tax expense for that same year
- because we're not... what I'm getting to, Madam Chair, is we have a cost of the sales tax exemption,
- If you have increased production, you're bringing in sales tax severance tax revenue.
Keywords:
hydraulic fracturing, sales tax exemption, oil and gas, environmental impact, water reuse, justice, judicial council, centers of excellence, court operations, recognition program, franchise tax, retail trade, tax classification, business regulation, economic impact, advisory entities, comptroller, public accounts, financial management, government efficiency
Summary:
The meeting of the committee focused on several key bills including SB2873, SB2900, HJR4, SB1574, and SB2774. Senator Nichols played a prominent role in discussing and moving multiple bills forward, indicating strong bipartisan support as votes consistently showed 'aye' without any dissent in the committee. Public testimony was received during discussions of these bills, notably around HJR4, which addresses concerns from the financial sector regarding the imposition of new taxes on transactions, and SB2774, which modifies the tax definitions to better include industrial uniform rental businesses. The discussions highlighted the importance of economic implications as well as sector-specific needs and benefits, ensuring various sectors were represented in the discourse. The committee adjourned with all bills reported favorably for further consideration by the full Senate.