Texas House Bill HB999

Texas 2015 - 84th Regular

Caption

Relating to the comptroller's report on the effect of certain tax provisions.

Impact

If enacted, this bill will significantly affect state tax policy by requiring the comptroller to provide comprehensive data regarding tax reductions. By extending the analysis period to include multiple years of forecast data, the bill seeks to promote better fiscal governance and accountability. Furthermore, it aims to clarify the implications of tax reductions on various demographic groups and industries, thereby enabling more informed decision-making by lawmakers. The bill's disclosures are expected to facilitate public understanding and debate regarding tax legislation's effectiveness and equity.

Summary

House Bill 999 aims to enhance the transparency and analysis of tax provisions that reduce the amount of tax payable by codifying requirements for the comptroller's report. The bill mandates that the report must include a detailed analysis of each special tax provision that leads to a reduction in tax, including a revenue loss estimate for up to six years. Additionally, it stipulates that any provisions resulting in a revenue decline exceeding one percent must also detail their impact on the distribution of the tax burden among different income and industry classes.

Contention

Notably, there may be points of contention around the bill's provisions. Supporters argue that increased accountability from the comptroller's reports will help identify which tax provisions effectively contribute to economic growth and which do not. Critics, however, may express concerns about the potential overreach of government oversight and the implications of publicizing sensitive revenue-related information about specific entities. This could lead to debates on privacy, competitive business practices, and the efficacy of existing tax incentives aimed at fostering economic development.