BILL ANALYSIS H.B. 1309 By: Otto Ways & Means Committee Report (Unamended) BACKGROUND AND PURPOSE Railroad rolling stock is one of the valuation components used in calculating county effective and rollback tax rates. The appraisal of this component is done by the comptroller of public account's property tax assistance division, not local appraisal districts. Current law requires appraisal districts to certify property values to taxing entities on or before July 25 of each year while the comptroller is required to certify railroad rolling stock values on or before July 31 of each year. The six-day variance delays the calculation and publication of county effective and rollback tax rates. Moving the rolling stock certification date to the same date as the appraisal district required certification date removes the delays associated with providing data to county commissioners courts and budget officers. H.B. 1309 requires the comptroller to certify railroad rolling stock each year before July 26, rather than August 1. RULEMAKING AUTHORITY It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution. ANALYSIS H.B. 1309 amends the Tax Code to change from August 1 to July 26 of each year the deadline for the comptroller of public accounts to certify to the county assessor-collector for each county in which a railroad operates the county's apportioned amount of the market value of each owner's rolling stock and the name and business address of each owner. EFFECTIVE DATE January 1, 2010.
BILL ANALYSIS
# BILL ANALYSIS
H.B. 1309
By: Otto
Ways & Means
Committee Report (Unamended)
H.B. 1309
By: Otto
Ways & Means
Committee Report (Unamended)
BACKGROUND AND PURPOSE Railroad rolling stock is one of the valuation components used in calculating county effective and rollback tax rates. The appraisal of this component is done by the comptroller of public account's property tax assistance division, not local appraisal districts. Current law requires appraisal districts to certify property values to taxing entities on or before July 25 of each year while the comptroller is required to certify railroad rolling stock values on or before July 31 of each year. The six-day variance delays the calculation and publication of county effective and rollback tax rates. Moving the rolling stock certification date to the same date as the appraisal district required certification date removes the delays associated with providing data to county commissioners courts and budget officers. H.B. 1309 requires the comptroller to certify railroad rolling stock each year before July 26, rather than August 1.
RULEMAKING AUTHORITY It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.
ANALYSIS H.B. 1309 amends the Tax Code to change from August 1 to July 26 of each year the deadline for the comptroller of public accounts to certify to the county assessor-collector for each county in which a railroad operates the county's apportioned amount of the market value of each owner's rolling stock and the name and business address of each owner.
EFFECTIVE DATE January 1, 2010.
BACKGROUND AND PURPOSE
Railroad rolling stock is one of the valuation components used in calculating county effective and rollback tax rates. The appraisal of this component is done by the comptroller of public account's property tax assistance division, not local appraisal districts. Current law requires appraisal districts to certify property values to taxing entities on or before July 25 of each year while the comptroller is required to certify railroad rolling stock values on or before July 31 of each year. The six-day variance delays the calculation and publication of county effective and rollback tax rates. Moving the rolling stock certification date to the same date as the appraisal district required certification date removes the delays associated with providing data to county commissioners courts and budget officers.
H.B. 1309 requires the comptroller to certify railroad rolling stock each year before July 26, rather than August 1.
RULEMAKING AUTHORITY
It is the committee's opinion that this bill does not expressly grant any additional rulemaking authority to a state officer, department, agency, or institution.
ANALYSIS
H.B. 1309 amends the Tax Code to change from August 1 to July 26 of each year the deadline for the comptroller of public accounts to certify to the county assessor-collector for each county in which a railroad operates the county's apportioned amount of the market value of each owner's rolling stock and the name and business address of each owner.
EFFECTIVE DATE
January 1, 2010.