LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION March 17, 2011 TO: Honorable Steve Ogden, Chair, Senate Committee on Finance FROM: John S O'Brien, Director, Legislative Budget Board IN RE:SJR16 by Estes (Proposing a constitutional amendment providing for the appraisal for ad valorem tax purposes of open-space land devoted to water stewardship purposes on the basis of its productive capacity.), As Introduced No fiscal implication to the State is anticipated, other than the cost of publication. The cost to the state for publication of the resolution is $105,495. The resolution would propose an amendment to Section 1-d-1(a), Article VIII, of the Texas Constitution, to add water stewardship to the list of land uses that qualify for appraisal based on the land's productive capacity instead of market value. The proposed amendment would require the Legislature to provide by general law for taxation of land devoted to water stewardship. Because the proposed amendment leaves the details of the taxation of water stewardship land to the Legislature there would be no fiscal impact to the state, other than the cost of publication, or units of local government. The proposed amendment would be submitted to voters at an election to be held November 8, 2011 and, if approved, would take effect January 1, 2012. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts LBB Staff: JOB, KK, SD, SJS
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION
March 17, 2011
TO: Honorable Steve Ogden, Chair, Senate Committee on Finance FROM: John S O'Brien, Director, Legislative Budget Board IN RE:SJR16 by Estes (Proposing a constitutional amendment providing for the appraisal for ad valorem tax purposes of open-space land devoted to water stewardship purposes on the basis of its productive capacity.), As Introduced
TO: Honorable Steve Ogden, Chair, Senate Committee on Finance
FROM: John S O'Brien, Director, Legislative Budget Board
IN RE: SJR16 by Estes (Proposing a constitutional amendment providing for the appraisal for ad valorem tax purposes of open-space land devoted to water stewardship purposes on the basis of its productive capacity.), 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
SJR16 by Estes (Proposing a constitutional amendment providing for the appraisal for ad valorem tax purposes of open-space land devoted to water stewardship purposes on the basis of its productive capacity.), As Introduced
SJR16 by Estes (Proposing a constitutional amendment providing for the appraisal for ad valorem tax purposes of open-space land devoted to water stewardship purposes on the basis of its productive capacity.), As Introduced
No fiscal implication to the State is anticipated, other than the cost of publication. The cost to the state for publication of the resolution is $105,495.
No fiscal implication to the State is anticipated, other than the cost of publication. The cost to the state for publication of the resolution is $105,495.
The cost to the state for publication of the resolution is $105,495.
The resolution would propose an amendment to Section 1-d-1(a), Article VIII, of the Texas Constitution, to add water stewardship to the list of land uses that qualify for appraisal based on the land's productive capacity instead of market value. The proposed amendment would require the Legislature to provide by general law for taxation of land devoted to water stewardship. Because the proposed amendment leaves the details of the taxation of water stewardship land to the Legislature there would be no fiscal impact to the state, other than the cost of publication, or units of local government. The proposed amendment would be submitted to voters at an election to be held November 8, 2011 and, if approved, would take effect January 1, 2012.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: JOB, KK, SD, SJS
JOB, KK, SD, SJS