LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION March 25, 2013 TO: Honorable Larry Phillips, Chair, House Committee on Transportation FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB1878 by McClendon (Relating to the allocation of certain revenue to the Texas rail relocation and improvement fund.), As Introduced Estimated Two-year Net Impact to General Revenue Related Funds for HB1878, As Introduced: a negative impact of ($50,000,000) through the biennium ending August 31, 2015.
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
March 25, 2013
TO: Honorable Larry Phillips, Chair, House Committee on Transportation FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB1878 by McClendon (Relating to the allocation of certain revenue to the Texas rail relocation and improvement fund.), As Introduced
TO: Honorable Larry Phillips, Chair, House Committee on Transportation
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB1878 by McClendon (Relating to the allocation of certain revenue to the Texas rail relocation and improvement fund.), As Introduced
Honorable Larry Phillips, Chair, House Committee on Transportation
Honorable Larry Phillips, Chair, House Committee on Transportation
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB1878 by McClendon (Relating to the allocation of certain revenue to the Texas rail relocation and improvement fund.), As Introduced
HB1878 by McClendon (Relating to the allocation of certain revenue to the Texas rail relocation and improvement fund.), As Introduced
Estimated Two-year Net Impact to General Revenue Related Funds for HB1878, As Introduced: a negative impact of ($50,000,000) through the biennium ending August 31, 2015.
Estimated Two-year Net Impact to General Revenue Related Funds for HB1878, As Introduced: a negative impact of ($50,000,000) through the biennium ending August 31, 2015.
General Revenue-Related Funds, Five-Year Impact: Fiscal Year Probable Net Positive/(Negative) Impact to General Revenue Related Funds 2014 ($25,000,000) 2015 ($25,000,000) 2016 ($25,000,000) 2017 ($25,000,000) 2018 ($25,000,000)
2014 ($25,000,000)
2015 ($25,000,000)
2016 ($25,000,000)
2017 ($25,000,000)
2018 ($25,000,000)
All Funds, Five-Year Impact: Fiscal Year Probable Revenue (Loss) fromGeneral Revenue Fund1 Probable Revenue Gain fromTexas Rail Relocation and Improvement Fund 2014 ($25,000,000) $25,000,000 2015 ($25,000,000) $25,000,000 2016 ($25,000,000) $25,000,000 2017 ($25,000,000) $25,000,000 2018 ($25,000,000) $25,000,000
Fiscal Year Probable Revenue (Loss) fromGeneral Revenue Fund1 Probable Revenue Gain fromTexas Rail Relocation and Improvement Fund 2014 ($25,000,000) $25,000,000 2015 ($25,000,000) $25,000,000 2016 ($25,000,000) $25,000,000 2017 ($25,000,000) $25,000,000 2018 ($25,000,000) $25,000,000
2014 ($25,000,000) $25,000,000
2015 ($25,000,000) $25,000,000
2016 ($25,000,000) $25,000,000
2017 ($25,000,000) $25,000,000
2018 ($25,000,000) $25,000,000
Fiscal Analysis
The bill would amend Chapter 152 of the Tax Code, regarding the motor vehicle sales and use tax. The bill would amend Section 152.122 (allocation of the tax) to direct that after the allocation of one-quarter of the revenue received from this tax to GR Account 0193Foundation School an allocation of $25 million would be deposited to Appropriated Fund 0306Texas Rail Relocation and Improvement Fund. The remaining revenue would be deposited to General Revenue Fund 0001. This bill would take effect September 1, 2013.
Methodology
The bill would result in a loss of $25 million from General Revenue Fund and an equivalent gain to the Texas Rail Relocation and Improvement Fund.
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: UP, AG, SD, KK
UP, AG, SD, KK