LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION April 9, 2009 TO: Honorable Steve Ogden, Chair, Senate Committee on Finance FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB1024 by Ogden (Relating to the due dates for split payment of ad valorem taxes.), As Introduced No fiscal implication to the State is anticipated. The bill would amend Chapter 31 of the Tax Code, regarding property tax collections. The bill would change the date of a taxpayer's payment for the first installment to taxing entities allowing split payments of ad valorem taxes. Existing law provides for the initial payment before December 1. The bill would change the date to on or before December 31. Currently, taxing units that collect their own taxes could provide for payment of one-half of the taxes due before December 1 and the remaining one-half would be due before July 1. Penalties and interest do not accrue. This bill would change the date of the first payment to on or before December 31. The bill would take effect September 1, 2009. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts LBB Staff: JOB, MN, SD, SJS
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
April 9, 2009
TO: Honorable Steve Ogden, Chair, Senate Committee on Finance FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB1024 by Ogden (Relating to the due dates for split payment of ad valorem taxes.), As Introduced
TO: Honorable Steve Ogden, Chair, Senate Committee on Finance
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: SB1024 by Ogden (Relating to the due dates for split payment of ad valorem taxes.), As Introduced
Honorable Steve Ogden, Chair, Senate Committee on Finance
Honorable Steve Ogden, Chair, Senate Committee on Finance
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
SB1024 by Ogden (Relating to the due dates for split payment of ad valorem taxes.), As Introduced
SB1024 by Ogden (Relating to the due dates for split payment of ad valorem taxes.), As Introduced
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend Chapter 31 of the Tax Code, regarding property tax collections. The bill would change the date of a taxpayer's payment for the first installment to taxing entities allowing split payments of ad valorem taxes. Existing law provides for the initial payment before December 1. The bill would change the date to on or before December 31. Currently, taxing units that collect their own taxes could provide for payment of one-half of the taxes due before December 1 and the remaining one-half would be due before July 1. Penalties and interest do not accrue. This bill would change the date of the first payment to on or before December 31. The bill would take effect September 1, 2009.
The bill would amend Chapter 31 of the Tax Code, regarding property tax collections.
The bill would change the date of a taxpayer's payment for the first installment to taxing entities allowing split payments of ad valorem taxes. Existing law provides for the initial payment before December 1. The bill would change the date to on or before December 31.
Currently, taxing units that collect their own taxes could provide for payment of one-half of the taxes due before December 1 and the remaining one-half would be due before July 1. Penalties and interest do not accrue. This bill would change the date of the first payment to on or before December 31.
The bill would take effect September 1, 2009.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: JOB, MN, SD, SJS
JOB, MN, SD, SJS