82R11933 JJT-F
By: Perry H.B. No. 3102
A BILL TO BE ENTITLED
AN ACT
relating to meetings of the Legislative Budget Board in response to
consecutive declines in reported sales and use tax revenues.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Chapter 322, Government Code, is amended by
adding Section 322.021 to read as follows:
Sec. 322.021. MEETING IN RESPONSE TO REPORTED DECLINES IN
SALES AND USE TAX REVENUES. (a) As soon as practicable after the
Legislative Budget Board is notified that the comptroller has
reported a month-to-month decline in revenues from state sales and
use taxes imposed under Chapter 151, Tax Code, for three
consecutive months, the board shall meet to consider whether it is
prudent to direct state agencies to reduce expenditures or to take
other action to reduce state spending in response to declining
state sales and use tax revenues.
(b) The comptroller shall send to the director of the
Legislative Budget Board, by e-mail or other means as requested by
the director, a monthly report showing whether total state sales
and use tax revenues for the most recent month for which the
information is available are less than the total state sales and use
tax revenues for the preceding month.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2011.