LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION February 25, 2013 TO: Honorable Juan Hinojosa, Chair, Senate Committee On Intergovernmental Relations FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB193 by West (Relating to the exemption from ad valorem taxation of certain property used to provide low-income and moderate-income housing.), As Introduced No fiscal implication to the State is anticipated. The bill would amend Section 11.182(g) of the Tax Code, regarding property taxes, taxable property, and exemptions, to provide that the current audit that a community housing development organization (CHDO) must prepare is required to be delivered to the Texas Department of Housing and Community Affairs (TDHCA) and to the chief appraiser of the appraisal district in which the property is located to receive an exemption on property for low-income and moderate income housing. The bill would amend Section 11.1826 to provide that an audit must be delivered to TDCHA and to the chief appraiser for an organization to receive an exemption for constructing or rehabilitating low-income housing pursuant to Section 11.1825. The chief appraiser would be authorized to extend for good cause shown the current deadline to deliver the audit. The bill would not affect taxable property values, tax rates, collection rates, or any other variable which might affect the revenues of units of local governments or the state. The bill would take effect January 1, 2014. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts LBB Staff: UP, KKR, SD, SJS
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 83RD LEGISLATIVE REGULAR SESSION
February 25, 2013
TO: Honorable Juan Hinojosa, Chair, Senate Committee On Intergovernmental Relations FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB193 by West (Relating to the exemption from ad valorem taxation of certain property used to provide low-income and moderate-income housing.), As Introduced
TO: Honorable Juan Hinojosa, Chair, Senate Committee On Intergovernmental Relations
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB193 by West (Relating to the exemption from ad valorem taxation of certain property used to provide low-income and moderate-income housing.), As Introduced
Honorable Juan Hinojosa, Chair, Senate Committee On Intergovernmental Relations
Honorable Juan Hinojosa, Chair, Senate Committee On Intergovernmental Relations
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
SB193 by West (Relating to the exemption from ad valorem taxation of certain property used to provide low-income and moderate-income housing.), As Introduced
SB193 by West (Relating to the exemption from ad valorem taxation of certain property used to provide low-income and moderate-income housing.), As Introduced
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend Section 11.182(g) of the Tax Code, regarding property taxes, taxable property, and exemptions, to provide that the current audit that a community housing development organization (CHDO) must prepare is required to be delivered to the Texas Department of Housing and Community Affairs (TDHCA) and to the chief appraiser of the appraisal district in which the property is located to receive an exemption on property for low-income and moderate income housing. The bill would amend Section 11.1826 to provide that an audit must be delivered to TDCHA and to the chief appraiser for an organization to receive an exemption for constructing or rehabilitating low-income housing pursuant to Section 11.1825. The chief appraiser would be authorized to extend for good cause shown the current deadline to deliver the audit. The bill would not affect taxable property values, tax rates, collection rates, or any other variable which might affect the revenues of units of local governments or the state. The bill would take effect January 1, 2014.
The bill would amend Section 11.182(g) of the Tax Code, regarding property taxes, taxable property, and exemptions, to provide that the current audit that a community housing development organization (CHDO) must prepare is required to be delivered to the Texas Department of Housing and Community Affairs (TDHCA) and to the chief appraiser of the appraisal district in which the property is located to receive an exemption on property for low-income and moderate income housing. The bill would amend Section 11.1826 to provide that an audit must be delivered to TDCHA and to the chief appraiser for an organization to receive an exemption for constructing or rehabilitating low-income housing pursuant to Section 11.1825. The chief appraiser would be authorized to extend for good cause shown the current deadline to deliver the audit.
The bill would not affect taxable property values, tax rates, collection rates, or any other variable which might affect the revenues of units of local governments or the state.
The bill would take effect January 1, 2014.
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, KKR, SD, SJS
UP, KKR, SD, SJS