Proposing a constitutional amendment to prohibit a state income tax or increase in a state income tax unless there is a two-thirds vote of the legislature to enact and submit to the voters a law imposing an income tax or increasing that tax.
Impact
If enacted, the implications of HJR45 would be profound for Texas tax law. It would change the process through which income tax initiatives could be enacted, requiring greater legislative and public support for any changes. This could lead to a more stable taxation environment, likely restricting the government's ability to increase revenue through income tax, which proponents argue could foster economic growth and preserve individual financial autonomy. However, opponents suggest it could inhibit necessary funding for public services that may rely on increased tax revenues.
Summary
HJR45 proposes a constitutional amendment that would significantly limit the state's ability to impose or raise a state income tax. Under this joint resolution, any proposal for a state income tax or an increase in the existing tax would require a two-thirds majority vote in the legislature, followed by the approval of a majority of registered voters in a statewide referendum. This framework is designed to create a high threshold for tax increases, ensuring that any major changes to tax policy would reflect a broad consensus among both lawmakers and the electorate.
Sentiment
The sentiment surrounding HJR45 appears to be divided along party lines. Supporters—predominantly from the Republican party—view this amendment as a protective measure for taxpayers and a way to maintain a low-tax environment in Texas. In contrast, opponents, primarily from the Democratic party, criticize the proposal as an attempt to limit the state's fiscal flexibility and potentially harm public service funding, arguing that such strict measures could hinder the government's ability to respond to economic challenges.
Contention
Notable points of contention in the discussions around HJR45 revolve around the balance of fiscal responsibility versus the need for government revenue. Advocates argue that the amendment protects taxpayers from sudden tax hikes and reflects the will of the people, whilst critics express concerns about the potential negative effects on public infrastructure and essential services dependent on adequate funding. The debate underscores a fundamental philosophical divide regarding taxation, governance, and the role of legislation in economic management.
Proposing a constitutional amendment prohibiting the enactment of a law imposing an occupation tax on certain entities that enter into transactions conveying securities or imposing a tax on certain securities transactions.
Proposing a constitutional amendment authorizing the legislature to exempt from ad valorem taxation income-producing tangible personal property having a value of less than a certain amount.
Proposing a constitutional amendment authorizing the legislature to exempt from ad valorem taxation income-producing tangible personal property having a value of less than a certain amount.
Proposing a constitutional amendment to authorize the legislature to exempt from ad valorem taxation a portion of the market value of tangible personal property a person owns that is held or used for the production of income.
Proposing a constitutional amendment to authorize the legislature to exempt from ad valorem taxation a portion of the market value of tangible personal property a person owns that is held or used for the production of income.
Proposing a constitutional amendment creating the Texas Connectivity Fund for the development of broadband and other telecommunications services in all areas of the state and authorizing the appropriation to that fund of a portion of revenue received from the existing state sales and use taxes on telecommunications services while not increasing the rate of the sales and use taxes.
Relating to an exemption from ad valorem taxation of a portion of the appraised value of tangible personal property that is held or used for the production of income and a franchise tax credit for the payment of certain related ad valorem taxes.