LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION April 6, 2015 TO: Honorable Jane Nelson, Chair, Senate Committee on Finance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB918 by Nichols (Relating to the procedure for claiming an exemption from ad valorem taxation of the property of a veteran's organization.), As Introduced No fiscal implication to the State is anticipated. The bill would amend Chapter 11 of the Tax Code, regarding taxable property and exemptions, to add the exemption of property owned by certain nonprofit veterans organizations to the list of exemptions for which the exemption, once allowed, need not be claimed in subsequent years until the property changes ownership or the property no longer qualifies for the exemption.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, 2016. 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, SJS
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION
April 6, 2015
TO: Honorable Jane Nelson, Chair, Senate Committee on Finance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB918 by Nichols (Relating to the procedure for claiming an exemption from ad valorem taxation of the property of a veteran's organization.), As Introduced
TO: Honorable Jane Nelson, Chair, Senate Committee on Finance
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB918 by Nichols (Relating to the procedure for claiming an exemption from ad valorem taxation of the property of a veteran's organization.), As Introduced
Honorable Jane Nelson, Chair, Senate Committee on Finance
Honorable Jane Nelson, Chair, Senate Committee on Finance
Ursula Parks, Director, Legislative Budget Board
Ursula Parks, Director, Legislative Budget Board
SB918 by Nichols (Relating to the procedure for claiming an exemption from ad valorem taxation of the property of a veteran's organization.), As Introduced
SB918 by Nichols (Relating to the procedure for claiming an exemption from ad valorem taxation of the property of a veteran's organization.), As Introduced
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend Chapter 11 of the Tax Code, regarding taxable property and exemptions, to add the exemption of property owned by certain nonprofit veterans organizations to the list of exemptions for which the exemption, once allowed, need not be claimed in subsequent years until the property changes ownership or the property no longer qualifies for the exemption.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, 2016.
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, SJS
UP, KK, SD, SJS