LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION March 28, 2013 TO: Honorable Harvey Hilderbran, Chair, House Committee on Ways & Means FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB1981 by Murphy (Relating to the exclusion of certain amounts from the total revenue of a taxable entity that is a motor carrier for purposes of the franchise tax.), As Introduced Estimated Two-year Net Impact to General Revenue Related Funds for HB1981, As Introduced: an impact of $0 through the biennium ending August 31, 2015. Additionally, the bill will have a direct impact of a revenue loss to the Property Tax Relief Fund of ($5,221,000) for the 2014-15 biennium. Any loss to the Property Tax Relief Fund must be made up with an equal amount of General Revenue to fund the Foundation School Program.
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
March 28, 2013
TO: Honorable Harvey Hilderbran, Chair, House Committee on Ways & Means FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB1981 by Murphy (Relating to the exclusion of certain amounts from the total revenue of a taxable entity that is a motor carrier for purposes of the franchise tax.), As Introduced
TO: Honorable Harvey Hilderbran, Chair, House Committee on Ways & Means
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB1981 by Murphy (Relating to the exclusion of certain amounts from the total revenue of a taxable entity that is a motor carrier for purposes of the franchise tax.), As Introduced
Honorable Harvey Hilderbran, Chair, House Committee on Ways & Means
Honorable Harvey Hilderbran, Chair, House Committee on Ways & Means
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB1981 by Murphy (Relating to the exclusion of certain amounts from the total revenue of a taxable entity that is a motor carrier for purposes of the franchise tax.), As Introduced
HB1981 by Murphy (Relating to the exclusion of certain amounts from the total revenue of a taxable entity that is a motor carrier for purposes of the franchise tax.), As Introduced
Estimated Two-year Net Impact to General Revenue Related Funds for HB1981, As Introduced: an impact of $0 through the biennium ending August 31, 2015. Additionally, the bill will have a direct impact of a revenue loss to the Property Tax Relief Fund of ($5,221,000) for the 2014-15 biennium. Any loss to the Property Tax Relief Fund must be made up with an equal amount of General Revenue to fund the Foundation School Program.
Estimated Two-year Net Impact to General Revenue Related Funds for HB1981, As Introduced: an impact of $0 through the biennium ending August 31, 2015.
Additionally, the bill will have a direct impact of a revenue loss to the Property Tax Relief Fund of ($5,221,000) for the 2014-15 biennium. Any loss to the Property Tax Relief Fund must be made up with an equal amount of General Revenue to fund the Foundation School Program.
General Revenue-Related Funds, Five-Year Impact: Fiscal Year Probable Net Positive/(Negative) Impact to General Revenue Related Funds 2014 $0 2015 $0 2016 $0 2017 $0 2018 $0
2014 $0
2015 $0
2016 $0
2017 $0
2018 $0
All Funds, Five-Year Impact: Fiscal Year Probable Revenue (Loss) fromProperty Tax Relief Fund304 2014 ($2,605,000) 2015 ($2,616,000) 2016 ($2,665,000) 2017 ($2,618,000) 2018 ($2,596,000)
Fiscal Year Probable Revenue (Loss) fromProperty Tax Relief Fund304 2014 ($2,605,000) 2015 ($2,616,000) 2016 ($2,665,000) 2017 ($2,618,000) 2018 ($2,596,000)
2014 ($2,605,000)
2015 ($2,616,000)
2016 ($2,665,000)
2017 ($2,618,000)
2018 ($2,596,000)
Fiscal Analysis
The bill would amend Chapter 171, Tax Code, regarding the franchise tax by adding a provision for an exclusion from total revenue for certain taxable entities. A taxable entity registered as a motor carrier under Chapter 643, Transportation Code, would be required to exclude from total revenue flow-through revenue derived from taxes and fees. The bill would take effect on January 1, 2014, and apply to franchise tax reports due on or after that date.
Methodology
The fiscal impact is based on data from the Bureau of Transportation Statistics and on the Comptroller's franchise tax data files.
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, KK, SD
UP, KK, SD