LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION April 26, 2013 TO: Honorable Byron Cook, Chair, House Committee on State Affairs FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1364 by Schwertner (Relating to the computation of an electric utility's income taxes.), As Engrossed 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 26, 2013
TO: Honorable Byron Cook, Chair, House Committee on State Affairs FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1364 by Schwertner (Relating to the computation of an electric utility's income taxes.), As Engrossed
TO: Honorable Byron Cook, Chair, House Committee on State Affairs
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB1364 by Schwertner (Relating to the computation of an electric utility's income taxes.), As Engrossed
Honorable Byron Cook, Chair, House Committee on State Affairs
Honorable Byron Cook, Chair, House Committee on State Affairs
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 Engrossed
SB1364 by Schwertner (Relating to the computation of an electric utility's income taxes.), As Engrossed
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