LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION March 8, 2015 TO: Honorable Dennis Bonnen, Chair, House Committee on Ways & Means FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB157 by Larson (Relating to the rates of sales and use taxes imposed by municipalities; authorizing an increase or decrease in the rate of those taxes.), As Introduced No fiscal implication to the State is anticipated. The bill would amend Chapters 334, 363, 504 and 505 of the Local Government Code, and Chapters 321 and 327 of the Tax Code, regarding the sales and use tax rates that a municipality may impose. The bill would provide that the tax rates for the sales and use taxes imposed by municipalities could be adopted in any increment of one-eighth of one percent that a municipality determines is appropriate, provided the rate does not result in a combined rate of local sales and use tax rates in excess of a maximum combined rate of two percent in any location. The bill would take effect September 1, 2015. Local Government Impact The extent to which municipalities might adopt new, or increase or decrease existing, municipal sales and use taxes given greater latitude in rate setting cannot be anticipated. Source Agencies:304 Comptroller of Public Accounts LBB Staff: UP, KK, SD
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION
March 8, 2015
TO: Honorable Dennis Bonnen, Chair, House Committee on Ways & Means FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB157 by Larson (Relating to the rates of sales and use taxes imposed by municipalities; authorizing an increase or decrease in the rate of those taxes.), As Introduced
TO: Honorable Dennis Bonnen, Chair, House Committee on Ways & Means
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB157 by Larson (Relating to the rates of sales and use taxes imposed by municipalities; authorizing an increase or decrease in the rate of those taxes.), As Introduced
Honorable Dennis Bonnen, Chair, House Committee on Ways & Means
Honorable Dennis Bonnen, Chair, House Committee on Ways & Means
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
HB157 by Larson (Relating to the rates of sales and use taxes imposed by municipalities; authorizing an increase or decrease in the rate of those taxes.), As Introduced
HB157 by Larson (Relating to the rates of sales and use taxes imposed by municipalities; authorizing an increase or decrease in the rate of those taxes.), As Introduced
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend Chapters 334, 363, 504 and 505 of the Local Government Code, and Chapters 321 and 327 of the Tax Code, regarding the sales and use tax rates that a municipality may impose. The bill would provide that the tax rates for the sales and use taxes imposed by municipalities could be adopted in any increment of one-eighth of one percent that a municipality determines is appropriate, provided the rate does not result in a combined rate of local sales and use tax rates in excess of a maximum combined rate of two percent in any location. The bill would take effect September 1, 2015.
Local Government Impact
The extent to which municipalities might adopt new, or increase or decrease existing, municipal sales and use taxes given greater latitude in rate setting cannot be anticipated.
Source Agencies: 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: UP, KK, SD
UP, KK, SD