LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION March 14, 2013 TO: Honorable Jim Pitts, Chair, House Committee On Appropriations FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB780 by Farias (Relating to a study by the Legislative Budget Board of the effect of ad valorem tax exemptions for certain veterans and their surviving spouses and children on local and state revenue and the state's economy.), As Introduced No significant fiscal implication to the State is anticipated. The bill would require the Legislative Budget Board (LBB) to study the effect to state and local revenue of exempting from ad valorem taxation $5,000 of the assessed value of a property owned by a veteran of the armed services of the United States if the veteran is a resident of this state and 1) served on active duty during World War II, the Korean War, the conflict in Vietnam, the Persian Gulf War, or the military operations against Afghanistan or Iraq or 2) was awarded, as a result of the veteran s service in the armed services, the Armed Forces Expeditionary Medal, the Navy Expeditionary Medal, the Marine Corps Expeditionary Medal, or the Global War on Terrorism Expeditionary Medal. The LBB would also be required to analyze the effect of the exemption to the Texas economy, how the loss of available local revenue attributable to the exemption would affect school district staffing levels, the diversity of educational and extracurricular programs offered by school districts, and social services programs offered to the public by counties, municipalities, and other local taxing units. The LBB would also be required consider the additional effect on local and state revenue, and the state's economy, if on the death of the veteran receiving the exemption, the veteran's surviving spouse or unmarried children (under 18 years of age) would be entitled to receive the exemption. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies: LBB Staff: UP, KK, SD, SJS
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
March 14, 2013
TO: Honorable Jim Pitts, Chair, House Committee On Appropriations FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB780 by Farias (Relating to a study by the Legislative Budget Board of the effect of ad valorem tax exemptions for certain veterans and their surviving spouses and children on local and state revenue and the state's economy.), As Introduced
TO: Honorable Jim Pitts, Chair, House Committee On Appropriations
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB780 by Farias (Relating to a study by the Legislative Budget Board of the effect of ad valorem tax exemptions for certain veterans and their surviving spouses and children on local and state revenue and the state's economy.), As Introduced
Honorable Jim Pitts, Chair, House Committee On Appropriations
Honorable Jim Pitts, Chair, House Committee On Appropriations
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB780 by Farias (Relating to a study by the Legislative Budget Board of the effect of ad valorem tax exemptions for certain veterans and their surviving spouses and children on local and state revenue and the state's economy.), As Introduced
HB780 by Farias (Relating to a study by the Legislative Budget Board of the effect of ad valorem tax exemptions for certain veterans and their surviving spouses and children on local and state revenue and the state's economy.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would require the Legislative Budget Board (LBB) to study the effect to state and local revenue of exempting from ad valorem taxation $5,000 of the assessed value of a property owned by a veteran of the armed services of the United States if the veteran is a resident of this state and 1) served on active duty during World War II, the Korean War, the conflict in Vietnam, the Persian Gulf War, or the military operations against Afghanistan or Iraq or 2) was awarded, as a result of the veteran s service in the armed services, the Armed Forces Expeditionary Medal, the Navy Expeditionary Medal, the Marine Corps Expeditionary Medal, or the Global War on Terrorism Expeditionary Medal. The LBB would also be required to analyze the effect of the exemption to the Texas economy, how the loss of available local revenue attributable to the exemption would affect school district staffing levels, the diversity of educational and extracurricular programs offered by school districts, and social services programs offered to the public by counties, municipalities, and other local taxing units. The LBB would also be required consider the additional effect on local and state revenue, and the state's economy, if on the death of the veteran receiving the exemption, the veteran's surviving spouse or unmarried children (under 18 years of age) would be entitled to receive the exemption.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies:
LBB Staff: UP, KK, SD, SJS
UP, KK, SD, SJS