Relating to the limitation on the rate of growth in appropriations from state tax revenues.
Impact
The implementation of SB15 will fundamentally alter the budgeting process in Texas by mandating the Legislative Budget Board to adhere to these defined limits when proposing the state budget. This change could have significant ramifications for various sectors dependent on state funding, as it may restrict available resources for programs, services, and infrastructure projects. Advocates argue that such fiscal discipline is necessary to avoid financial pitfalls, while critics worry it might hinder growth initiatives and essential public services that require sufficient funding to operate effectively.
Summary
SB15 is legislation aimed at imposing limits on the rate of growth for appropriations from state tax revenues that are not dedicated by the Texas Constitution. The bill specifically outlines a formula to restrict the increase in appropriations to the lowest of three calculated rates: the estimated growth of the state's economy, the combined rate of population growth and inflation, or the growth rate of the state's gross state product. The purpose of this restriction is to control state spending and ensure fiscal responsibility over the forthcoming bienniums, starting from September 1, 2015.
Sentiment
The sentiment surrounding SB15 appears to be mixed, depending on the perspectives of various stakeholders. Proponents of the bill, often from conservative backgrounds, support it as a means to safeguard taxpayers' money and instill a culture of spending accountability in state government. On the other side, opponents, including some public service advocates and local government officials, express concern that stringent limits could result in underfunding key services and impede the ability of lawmakers to respond flexibly to the needs of Texas residents in times of growth or crisis.
Contention
Notable points of contention stem from the balance between ensuring fiscal responsibility and adequately funding necessary state services. Detractors argue that while controlling expenditure is prudent, the rigid constraints imposed by SB15 could restrict vital funding for education, healthcare, and public safety. They fear that such limitations could prevent the state from adapting to unexpected economic fluctuations or needs. Additionally, the bill's reliance on estimates and economic projections raises questions about its effectiveness and the potential for discrepancies between projected and actual economic conditions.
Relating to an annual state budget and legislative budget sessions in even-numbered years and to political contributions made during a legislative session.
Proposing a constitutional amendment excepting certain appropriations to pay for school district ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.
Proposing a constitutional amendment excepting certain appropriations to pay for school district ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.
Proposing a constitutional amendment excepting certain appropriations to pay for school district ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.
Proposing a constitutional amendment excepting certain appropriations to pay for tax relief from the constitutional limitation on the rate of growth of appropriations.
Proposing a constitutional amendment to increase the amount of the exemption from ad valorem taxation by a school district applicable to residence homesteads, to adjust the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect increases in certain exemption amounts, and to except certain appropriations to pay for school district ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.
Proposing a constitutional amendment to increase the amount of the exemption from ad valorem taxation by a school district applicable to residence homesteads, to adjust the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect increases in certain exemption amounts, and to except certain appropriations to pay for school district ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.
Relating to agreements authorizing a limitation on taxable value of certain property to provide for the creation of jobs and the generation of state and local tax revenue; authorizing fees; authorizing penalties.
Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of real property for ad valorem tax purposes, to increase the amount of an exemption from ad valorem taxation by a school district applicable to residence homesteads, to adjust the amount of the limitation on school district ad valorem taxes imposed on the residence homesteads of the elderly or disabled to reflect increases in certain exemption amounts, and to except certain appropriations to pay for ad valorem tax relief from the constitutional limitation on the rate of growth of appropriations.