Texas House Bill HB1139

Texas 2017 - 85th Regular

Caption

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

Impact

The legislative intent behind HB1139 is to give policymakers a clearer understanding of the financial implications of tax provisions. By mandating a comprehensive report from the comptroller, the bill seeks to aid legislative decision-making related to tax policy, ensuring that legislators can assess the effectiveness and consequences of various tax incentives and reductions. The new reporting requirements could influence future tax legislation and adjustments to existing provisions based on economic impact and revenue considerations.

Summary

House Bill 1139 proposes amendments to the Government Code related to the comptroller's reporting obligations regarding certain tax provisions. Specifically, it requires the comptroller to provide detailed analysis on special tax provisions that reduce the amount of tax payable by entities, including estimates of revenue lost over a six-year period. This requirement aims to improve transparency and accountability in how tax reductions impact state revenues.

Contention

While HB1139 appears straightforward, there may be underlying concerns from various stakeholders. For instance, businesses that benefit from these tax reductions could view increased reporting requirements as a potential threat to their existing tax benefits. On the other hand, proponents argue that this bill is crucial for preventing unintended consequences of tax policy, especially in the context of equity across different income classes and industries as the report will analyze the distribution of the tax burden.

Notable_points

One notable aspect of the bill is that it seeks to ensure accountability by requiring the disclosure of actual dollar amounts received by entities as reductions in taxes. This level of transparency has the potential to spark discussions on the fairness of tax provisions and their impact on different sectors of the economy. Such insights will be essential as lawmakers continue to grapple with state budget issues and the allocation of taxpayer resources.