LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION April 4, 2013 TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1364 by Schwertner (Relating to the computation of an electric utility's income taxes.), As Introduced No significant fiscal implication to the State is anticipated. The bill would amend the Utilities Code to require a utility to include income tax benefits related to expenses included in utility rates and investments included in the utility base rate in the computation of the utility's income tax. The bill would also eliminate the use of a consolidated tax savings adjustment in the determination of a utility's income tax expense. Based on information provided by the Public Utility Commission, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:473 Public Utility Commission of Texas LBB Staff: UP, RB, ED, AG
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
April 4, 2013
TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1364 by Schwertner (Relating to the computation of an electric utility's income taxes.), As Introduced
TO: Honorable John Carona, Chair, Senate Committee on Business & Commerce
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB1364 by Schwertner (Relating to the computation of an electric utility's income taxes.), As Introduced
Honorable John Carona, Chair, Senate Committee on Business & Commerce
Honorable John Carona, Chair, Senate Committee on Business & Commerce
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
SB1364 by Schwertner (Relating to the computation of an electric utility's income taxes.), As Introduced
SB1364 by Schwertner (Relating to the computation of an electric utility's income taxes.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend the Utilities Code to require a utility to include income tax benefits related to expenses included in utility rates and investments included in the utility base rate in the computation of the utility's income tax. The bill would also eliminate the use of a consolidated tax savings adjustment in the determination of a utility's income tax expense. Based on information provided by the Public Utility Commission, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
The bill would amend the Utilities Code to require a utility to include income tax benefits related to expenses included in utility rates and investments included in the utility base rate in the computation of the utility's income tax. The bill would also eliminate the use of a consolidated tax savings adjustment in the determination of a utility's income tax expense.
Based on information provided by the Public Utility Commission, duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 473 Public Utility Commission of Texas
473 Public Utility Commission of Texas
LBB Staff: UP, RB, ED, AG
UP, RB, ED, AG