Texas House Bill HB2699

Texas 2013 - 83rd Regular

Caption

Relating to the comptroller's report on the effect of certain tax provisions.

Impact

The introduction of HB 2699 is expected to impact state laws related to taxation and financial reporting. By necessitating the use of estimated data where actual data is lacking, the bill provides a framework for a more comprehensive understanding of how various tax provisions influence state revenues. This change may lead to a more rigorous analytical approach in assessing the fiscal impacts of tax exemptions and can help guide legislative decisions in future budgetary considerations.

Summary

House Bill 2699 aims to amend the Government Code by enhancing the comptroller's reporting obligations regarding certain tax provisions. Specifically, it requires that if actual data for tax exemptions, discounts, exclusions, and other special tax treatments are unavailable, the comptroller must utilize available statistical data to estimate the effects of such tax provisions. This amendment seeks to ensure more transparency and clarity in the evaluation of tax preferences by mandating that any inability to determine the effects of a tax concession is accompanied by a detailed explanation.

Sentiment

The sentiment surrounding HB 2699 appears to be predominantly positive among lawmakers who advocate for increased fiscal transparency and effective governance. The bill is viewed as a positive step towards informed decision-making regarding tax policies. However, there may be concerns raised by those apprehensive about relying on statistical estimates, fearing that this may lead to inaccuracies in forecasting tax revenue effects.

Contention

Notable points of contention could arise regarding how the comptroller will determine and present statistical estimates, as well as the potential implications for future tax legislation. Critics might argue that using estimated data can lead to misleading conclusions, which could affect taxpayers' perceptions of tax fairness and the efficacy of tax policies. The requirement for a complete explanation in cases where the effects cannot be determined introduces a level of accountability, yet it also raises questions about the standards and methods used to create these estimates.