Texas 2009 - 81st Regular

Texas House Bill HB464 Compare Versions

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Old	New	Differences
1	1	H.B. No. 464
2	2
3	3
4	4	AN ACT
5	5	relating to the preparation by the Legislative Budget Board of a
6	6	dynamic fiscal impact statement for certain bills and joint
7	7	resolutions affecting taxes and fees.
8	8	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
9	9	SECTION 1. Chapter 314, Government Code, is amended by
10	10	adding Section 314.005 to read as follows:
11	11	Sec. 314.005. DYNAMIC FISCAL IMPACT STATEMENT ON TAX OR FEE
12	12	MEASURE. (a) The board shall prepare a dynamic fiscal impact
13	13	statement for each bill or joint resolution:
14	14	(1) that raises or lowers the rate or amount of a tax
15	15	or fee or proposes an amendment to the Texas Constitution that would
16	16	raise or lower the rate or amount of a tax or fee; and
17	17	(2) for which a fiscal note is prepared indicating a
18	18	positive or negative impact on revenue of at least $75 million
19	19	annually.
20	20	(b) The dynamic fiscal impact statement must, based on
21	21	dynamic scoring principles, project for the five-year period
22	22	beginning on the proposed effective date of the change in the rate
23	23	or amount of the tax or fee the estimated fiscal and economic
24	24	impacts of raising or lowering the rate or amount of the tax or fee
25	25	as proposed, including the impact on:
26	26	(1) tax or fee receipts; and
27	27	(2) the costs of the specific program, if any, that the
28	28	tax or fee is designed to directly support.
29	29	(c) In this section, "dynamic scoring principles" means a
30	30	method of estimating the pace of economic growth or the change in
31	31	the aggregate level of economic output and incomes, in response to a
32	32	change in the rate or amount of a tax or fee, that takes into
33	33	consideration factors including:
34	34	(1) the direct impact on tax or fee receipts and, if
35	35	the tax or fee is designed to directly support a specific program,
36	36	on program costs;
37	37	(2) the effects on incentives to work, save, invest,
38	38	and conduct economic affairs;
39	39	(3) the resulting change in the overall level of
40	40	economic activity;
41	41	(4) the impact of the resulting higher or lower level
42	42	of economic activity on tax or fee receipts and, if the tax or fee is
43	43	designed to directly support a specific program, on program costs;
44	44	and
45	45	(5) a calculation of the net impact of the legislation
46	46	proposing the change on the unified budget.
47	47	(d) The dynamic fiscal impact statement must be attached to
48	48	the bill or resolution immediately following the fiscal note
49	49	attached under Section 314.003.
50	50	(e) On the fifth anniversary of the effective date of a bill
51	51	that becomes law for which a dynamic fiscal impact statement was
52	52	prepared under this section, the comptroller shall prepare and
53	53	submit to the presiding officer of each house of the legislature a
54	54	report that assesses the accuracy of the relevant fiscal note
55	55	prepared for the bill and the accuracy of the relevant dynamic
56	56	fiscal impact statement prepared for the bill.
57	57	SECTION 2. Section 314.004(c), Government Code, is amended
58	58	to read as follows:
59	59	(c) The impact statement must be attached to the bill or
60	60	resolution immediately following:
61	61	(1) the fiscal note attached under Section 314.003; or
62	62	(2) if a dynamic fiscal impact statement is prepared
63	63	under Section 314.005, the dynamic fiscal impact statement.
64	64	SECTION 3. This Act takes effect September 1, 2009.
65	65	______________________________ ______________________________
66	66	President of the Senate Speaker of the House
67	67	I certify that H.B. No. 464 was passed by the House on May 15,
68	68	2009, by the following vote: Yeas 139, Nays 0, 1 present, not
69	69	voting; and that the House concurred in Senate amendments to H.B.
70	70	No. 464 on May 29, 2009, by the following vote: Yeas 142, Nays 0, 1
71	71	present, not voting.
72	72	______________________________
73	73	Chief Clerk of the House
74	74	I certify that H.B. No. 464 was passed by the Senate, with
75	75	amendments, on May 26, 2009, by the following vote: Yeas 30, Nays
76	76	1.
77	77	______________________________
78	78	Secretary of the Senate
79	79	APPROVED: __________________
80	80	Date
81	81	__________________
82	82	Governor