LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION May 1, 2011 TO: Honorable Steve Ogden, Chair, Senate Committee on Finance FROM: John S O'Brien, Director, Legislative Budget Board IN RE:SJR53 by Ellis (Proposing a constitutional amendment requiring the periodic review of state and local tax preferences and providing an expiration date for certain tax preferences.), As Introduced No significant 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 proposed constitutional amendment would require the Legislature to define the term tax preference and periodically review the defined state and local tax preferences. Tax preferences that were put into place on or after September 1, 2012 would automatically sunset after 6 years, unless and earlier or later expiration date was set by the Legislature. The proposed constitutional amendment would be submitted to voters at an election to be held on November 8, 2011. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies: LBB Staff: JOB, KK, SD
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 82ND LEGISLATIVE REGULAR SESSION
May 1, 2011
TO: Honorable Steve Ogden, Chair, Senate Committee on Finance FROM: John S O'Brien, Director, Legislative Budget Board IN RE:SJR53 by Ellis (Proposing a constitutional amendment requiring the periodic review of state and local tax preferences and providing an expiration date for certain tax preferences.), As Introduced
TO: Honorable Steve Ogden, Chair, Senate Committee on Finance
FROM: John S O'Brien, Director, Legislative Budget Board
IN RE: SJR53 by Ellis (Proposing a constitutional amendment requiring the periodic review of state and local tax preferences and providing an expiration date for certain tax preferences.), 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
SJR53 by Ellis (Proposing a constitutional amendment requiring the periodic review of state and local tax preferences and providing an expiration date for certain tax preferences.), As Introduced
SJR53 by Ellis (Proposing a constitutional amendment requiring the periodic review of state and local tax preferences and providing an expiration date for certain tax preferences.), As Introduced
No significant 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 significant 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 proposed constitutional amendment would require the Legislature to define the term tax preference and periodically review the defined state and local tax preferences. Tax preferences that were put into place on or after September 1, 2012 would automatically sunset after 6 years, unless and earlier or later expiration date was set by the Legislature. The proposed constitutional amendment would be submitted to voters at an election to be held on November 8, 2011.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
LBB Staff: JOB, KK, SD
JOB, KK, SD