LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 84TH LEGISLATIVE REGULAR SESSION April 20, 2015 TO: Honorable Jane Nelson, Chair, Senate Committee on Finance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SJR50 by Lucio (Proposing a constitutional amendment authorizing the legislature to exempt from ad valorem taxation structures used to store certain implements of husbandry.), As Introduced The resolution alone would have no fiscal implication to the State other than the cost of publication. Any additional fiscal implication would be attributable to the corresponding enabling legislation. The cost to the state for publication of the resolution is $118,681. The resolution would propose an amendment to Article VIII of the Texas Constitution to add new Section 19b to permit the Legislature to exempt from property taxation a structure used to store implements of husbandry that are used in the production of farm or ranch products. The Legislature would be permitted to provide additional eligibility requirements.Adoption of the proposed constitutional amendment alone would have no fiscal impact on the state or units of local government. Any fiscal impact would depend on the corresponding (SB 1379) enabling legislation.The proposed amendment would be submitted to voters at an election to be held November 3, 2015. Local Government Impact The proposed constitutional amendment alone would have no fiscal implication to units of local government. Any fiscal implication would be attributable to the corresponding enabling legislation. 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 20, 2015
TO: Honorable Jane Nelson, Chair, Senate Committee on Finance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SJR50 by Lucio (Proposing a constitutional amendment authorizing the legislature to exempt from ad valorem taxation structures used to store certain implements of husbandry.), As Introduced
TO: Honorable Jane Nelson, Chair, Senate Committee on Finance
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SJR50 by Lucio (Proposing a constitutional amendment authorizing the legislature to exempt from ad valorem taxation structures used to store certain implements of husbandry.), 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
SJR50 by Lucio (Proposing a constitutional amendment authorizing the legislature to exempt from ad valorem taxation structures used to store certain implements of husbandry.), As Introduced
SJR50 by Lucio (Proposing a constitutional amendment authorizing the legislature to exempt from ad valorem taxation structures used to store certain implements of husbandry.), As Introduced
The resolution alone would have no fiscal implication to the State other than the cost of publication. Any additional fiscal implication would be attributable to the corresponding enabling legislation. The cost to the state for publication of the resolution is $118,681.
The resolution alone would have no fiscal implication to the State other than the cost of publication. Any additional fiscal implication would be attributable to the corresponding enabling legislation. The cost to the state for publication of the resolution is $118,681.
The resolution would propose an amendment to Article VIII of the Texas Constitution to add new Section 19b to permit the Legislature to exempt from property taxation a structure used to store implements of husbandry that are used in the production of farm or ranch products. The Legislature would be permitted to provide additional eligibility requirements.Adoption of the proposed constitutional amendment alone would have no fiscal impact on the state or units of local government. Any fiscal impact would depend on the corresponding (SB 1379) enabling legislation.The proposed amendment would be submitted to voters at an election to be held November 3, 2015.
Local Government Impact
The proposed constitutional amendment alone would have no fiscal implication to units of local government. Any fiscal implication would be attributable to the corresponding enabling legislation.
Source Agencies: 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: UP, KK, SD, SJS
UP, KK, SD, SJS