LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION May 12, 2017 TO: Honorable Jane Nelson, Chair, Senate Committee on Finance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2067 by Oliveira (Relating to the registration of a related finance company for purposes of the motor vehicle sales and use tax; repealing the authorization for a fee.), As Engrossed No significant fiscal implication to the State is anticipated. The bill would amend Chapter 152 of the Tax Code, regarding motor vehicle sales and use taxes. The current requirement in Section 152.0475(c) that a related finance company register with the Comptroller on an annual basis would be amended to keep an existing registration in effect until it is canceled by the holder or the Comptroller. The bill would repeal Section 152.0475(d), which authorizes the Comptroller to charge an annual fee of up to $1,500 for each registration.The Comptroller does not currently require a related finance company to register annually and does not collect a registration fee, therefore the bill would have no fiscal implications. The bill would take effect immediately upon enactment, assuming it received the requisite two-thirds majority votes in both houses of the Legislature. Otherwise, it would take effect September 1, 2017. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts LBB Staff: UP, CL, SD, KK
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION
May 12, 2017
TO: Honorable Jane Nelson, Chair, Senate Committee on Finance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:HB2067 by Oliveira (Relating to the registration of a related finance company for purposes of the motor vehicle sales and use tax; repealing the authorization for a fee.), As Engrossed
TO: Honorable Jane Nelson, Chair, Senate Committee on Finance
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: HB2067 by Oliveira (Relating to the registration of a related finance company for purposes of the motor vehicle sales and use tax; repealing the authorization for a fee.), As Engrossed
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
HB2067 by Oliveira (Relating to the registration of a related finance company for purposes of the motor vehicle sales and use tax; repealing the authorization for a fee.), As Engrossed
HB2067 by Oliveira (Relating to the registration of a related finance company for purposes of the motor vehicle sales and use tax; repealing the authorization for a fee.), As Engrossed
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would amend Chapter 152 of the Tax Code, regarding motor vehicle sales and use taxes. The current requirement in Section 152.0475(c) that a related finance company register with the Comptroller on an annual basis would be amended to keep an existing registration in effect until it is canceled by the holder or the Comptroller. The bill would repeal Section 152.0475(d), which authorizes the Comptroller to charge an annual fee of up to $1,500 for each registration.The Comptroller does not currently require a related finance company to register annually and does not collect a registration fee, therefore the bill would have no fiscal implications. The bill would take effect immediately upon enactment, assuming it received the requisite two-thirds majority votes in both houses of the Legislature. Otherwise, it would take effect September 1, 2017.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: UP, CL, SD, KK
UP, CL, SD, KK