LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION May 8, 2013 TO: Honorable Tommy Williams, Chair, Senate Committee on Finance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2766 by Hunter (Relating to the exclusion of certain flow-through funds in determining total revenue for purposes of the franchise tax.), As Engrossed No fiscal implication to the State is anticipated. The bill would amend Chapter 171 of the Tax Code, regarding the franchise tax, by adding "or subcontract" to the provision for exclusion from total revenue of flow-through funds mandated by contract. The bill would add "remediation" to the list of activities for improvements on real property that would be subject to the flow-through provision. The added language does not expand the flow-through funds exclusion beyond current law and, therefore, has no fiscal impact. The bill would take effect on January 1, 2014, and apply only to franchise tax reports due on or after that date. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts LBB Staff: UP, KK, SD
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
May 8, 2013
TO: Honorable Tommy Williams, Chair, Senate Committee on Finance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2766 by Hunter (Relating to the exclusion of certain flow-through funds in determining total revenue for purposes of the franchise tax.), As Engrossed
TO: Honorable Tommy Williams, Chair, Senate Committee on Finance
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB2766 by Hunter (Relating to the exclusion of certain flow-through funds in determining total revenue for purposes of the franchise tax.), As Engrossed
Honorable Tommy Williams, Chair, Senate Committee on Finance
Honorable Tommy Williams, Chair, Senate Committee on Finance
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB2766 by Hunter (Relating to the exclusion of certain flow-through funds in determining total revenue for purposes of the franchise tax.), As Engrossed
HB2766 by Hunter (Relating to the exclusion of certain flow-through funds in determining total revenue for purposes of the franchise tax.), As Engrossed
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend Chapter 171 of the Tax Code, regarding the franchise tax, by adding "or subcontract" to the provision for exclusion from total revenue of flow-through funds mandated by contract. The bill would add "remediation" to the list of activities for improvements on real property that would be subject to the flow-through provision. The added language does not expand the flow-through funds exclusion beyond current law and, therefore, has no fiscal impact. The bill would take effect on January 1, 2014, and apply only to franchise tax reports due on or after that date.
The bill would amend Chapter 171 of the Tax Code, regarding the franchise tax, by adding "or subcontract" to the provision for exclusion from total revenue of flow-through funds mandated by contract. The bill would add "remediation" to the list of activities for improvements on real property that would be subject to the flow-through provision.
The added language does not expand the flow-through funds exclusion beyond current law and, therefore, has no fiscal impact. The bill would take effect on January 1, 2014, and apply only to franchise tax reports due on or after that date.
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