LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION April 19, 2009 TO: Honorable Rene Oliveira, Chair, House Committee on Ways & Means FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB2025 by Zerwas (Relating to the dedication of certain state sales and use tax revenue to the foundation school fund.), As Introduced Estimated Two-year Net Impact to General Revenue Related Funds for HB2025, As Introduced: an impact of $0 through the biennium ending August 31, 2011.
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
April 19, 2009
TO: Honorable Rene Oliveira, Chair, House Committee on Ways & Means FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HB2025 by Zerwas (Relating to the dedication of certain state sales and use tax revenue to the foundation school fund.), As Introduced
TO: Honorable Rene Oliveira, Chair, House Committee on Ways & Means
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: HB2025 by Zerwas (Relating to the dedication of certain state sales and use tax revenue to the foundation school fund.), As Introduced
Honorable Rene Oliveira, Chair, House Committee on Ways & Means
Honorable Rene Oliveira, Chair, House Committee on Ways & Means
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
HB2025 by Zerwas (Relating to the dedication of certain state sales and use tax revenue to the foundation school fund.), As Introduced
HB2025 by Zerwas (Relating to the dedication of certain state sales and use tax revenue to the foundation school fund.), As Introduced
Estimated Two-year Net Impact to General Revenue Related Funds for HB2025, As Introduced: an impact of $0 through the biennium ending August 31, 2011.
Estimated Two-year Net Impact to General Revenue Related Funds for HB2025, As Introduced: an impact of $0 through the biennium ending August 31, 2011.
General Revenue-Related Funds, Five-Year Impact: Fiscal Year Probable Net Positive/(Negative) Impact to General Revenue Related Funds 2010 $0 2011 $0 2012 $0 2013 $0 2014 $0
2010 $0
2011 $0
2012 $0
2013 $0
2014 $0
All Funds, Five-Year Impact: Fiscal Year Probable Revenue (Loss) fromGeneral Revenue Fund1 Probable Revenue Gain fromFoundation School Fund193 2010 ($106,172,000) $106,172,000 2011 ($109,679,000) $109,679,000 2012 ($113,172,000) $113,172,000 2013 ($116,729,000) $116,729,000 2014 ($120,480,000) $120,480,000
Fiscal Year Probable Revenue (Loss) fromGeneral Revenue Fund1 Probable Revenue Gain fromFoundation School Fund193 2010 ($106,172,000) $106,172,000 2011 ($109,679,000) $109,679,000 2012 ($113,172,000) $113,172,000 2013 ($116,729,000) $116,729,000 2014 ($120,480,000) $120,480,000
2010 ($106,172,000) $106,172,000
2011 ($109,679,000) $109,679,000
2012 ($113,172,000) $113,172,000
2013 ($116,729,000) $116,729,000
2014 ($120,480,000) $120,480,000
Fiscal Analysis
The bill would amend Section 151.801 of the Tax Code, regarding the allocation of sales tax revenue. The bill would require the Comptroller to determine the amount of state sales tax collected on specified school supplies and allocate that revenue to the Foundation School Fund. The bill would take effect September 1, 2009.
The bill would amend Section 151.801 of the Tax Code, regarding the allocation of sales tax revenue. The bill would require the Comptroller to determine the amount of state sales tax collected on specified school supplies and allocate that revenue to the Foundation School Fund.
The bill would take effect September 1, 2009.
Methodology
State sales tax collections from the sale of school supplies were estimated based on national data gathered from the U.S. Bureau of the Census. National sales were adjusted to reflect sales made in Texas, multiplied by the state sales tax rate, and extrapolated through fiscal 2014. These estimated amounts represent the loss to the General Revenue Fund and the gain to the Foundation School Fund.
State sales tax collections from the sale of school supplies were estimated based on national data gathered from the U.S. Bureau of the Census. National sales were adjusted to reflect sales made in Texas, multiplied by the state sales tax rate, and extrapolated through fiscal 2014. These estimated amounts represent the loss to the General Revenue Fund and the gain to the Foundation School Fund.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts, 701 Central Education Agency
304 Comptroller of Public Accounts, 701 Central Education Agency
LBB Staff: JOB, MN, SD, KK
JOB, MN, SD, KK