LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION April 14, 2011 TO: Honorable Harvey Hilderbran, Chair, House Committee on Ways & Means FROM: John S O'Brien, Director, Legislative Budget Board IN RE:SB432 by Jackson (Relating to the penalty for failure to make a timely installment payment of ad valorem taxes on property in a disaster area.), As Engrossed No fiscal implication to the State is anticipated. The bill would amend Chapter 31 of the Tax Code, regarding property taxation and collections, to reduce the penalty on delinquent property tax installment payments for property located in a disaster area from 12 percent to 6 percent.The bill's proposed penalty reduction would create a cost to local governments when disasters occur. Neither future disasters nor the number of delinquent installment taxpayers in those disaster areas can be predicted. Consequently the fiscal impact of the bill cannot be estimated. There would be no fiscal impact on the state because delinquent tax penalties are outside of the school funding formula.The bill would take effect September 1, 2011. Local Government Impact The bill's proposed penalty reduction would create a cost to local governments when disasters occur. Source Agencies:304 Comptroller of Public Accounts LBB Staff: JOB, KK, SD, SJS
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION
April 14, 2011
TO: Honorable Harvey Hilderbran, Chair, House Committee on Ways & Means FROM: John S O'Brien, Director, Legislative Budget Board IN RE:SB432 by Jackson (Relating to the penalty for failure to make a timely installment payment of ad valorem taxes on property in a disaster area.), As Engrossed
TO: Honorable Harvey Hilderbran, Chair, House Committee on Ways & Means
FROM: John S O'Brien, Director, Legislative Budget Board
IN RE: SB432 by Jackson (Relating to the penalty for failure to make a timely installment payment of ad valorem taxes on property in a disaster area.), As Engrossed
Honorable Harvey Hilderbran, Chair, House Committee on Ways & Means
Honorable Harvey Hilderbran, Chair, House Committee on Ways & Means
John S O'Brien, Director, Legislative Budget Board
John S O'Brien, Director, Legislative Budget Board
SB432 by Jackson (Relating to the penalty for failure to make a timely installment payment of ad valorem taxes on property in a disaster area.), As Engrossed
SB432 by Jackson (Relating to the penalty for failure to make a timely installment payment of ad valorem taxes on property in a disaster area.), As Engrossed
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 taxation and collections, to reduce the penalty on delinquent property tax installment payments for property located in a disaster area from 12 percent to 6 percent.The bill's proposed penalty reduction would create a cost to local governments when disasters occur. Neither future disasters nor the number of delinquent installment taxpayers in those disaster areas can be predicted. Consequently the fiscal impact of the bill cannot be estimated. There would be no fiscal impact on the state because delinquent tax penalties are outside of the school funding formula.The bill would take effect September 1, 2011.
Local Government Impact
The bill's proposed penalty reduction would create a cost to local governments when disasters occur.
Source Agencies: 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: JOB, KK, SD, SJS
JOB, KK, SD, SJS