LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION April 14, 2015 TO: Honorable Dennis Bonnen, Chair, House Committee on Ways & Means FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2114 by Murphy (relating to the repeal of the inheritance tax.), Committee Report 1st House, Substituted No significant fiscal implication to the State is anticipated. The bill would repeal Chapter 211 of the Tax Code to eliminate inheritance taxes.The state's inheritance tax has collected no significant revenue since fiscal 2005, and its expected repeal would have no fiscal impact. The bill would take effect September 1, 2015. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts LBB Staff: UP, KK, SD
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION
April 14, 2015
TO: Honorable Dennis Bonnen, Chair, House Committee on Ways & Means FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2114 by Murphy (relating to the repeal of the inheritance tax.), Committee Report 1st House, Substituted
TO: Honorable Dennis Bonnen, Chair, House Committee on Ways & Means
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB2114 by Murphy (relating to the repeal of the inheritance tax.), Committee Report 1st House, Substituted
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
HB2114 by Murphy (relating to the repeal of the inheritance tax.), Committee Report 1st House, Substituted
HB2114 by Murphy (relating to the repeal of the inheritance tax.), Committee Report 1st House, Substituted
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would repeal Chapter 211 of the Tax Code to eliminate inheritance taxes.The state's inheritance tax has collected no significant revenue since fiscal 2005, and its expected repeal would have no fiscal impact. The bill would take effect September 1, 2015.
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, KK, SD
UP, KK, SD