LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION April 20, 2017 TO: Honorable Jane Nelson, Chair, Senate Committee on Finance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1047 by Creighton (Relating to installment payments of ad valorem taxes.), As Introduced No fiscal implication to the State is anticipated. The bill would amend Chapter 31 of the Tax Code, regarding property tax collections, to provide that, notwithstanding the deadline in existing law (the delinquency date - normally February 1) for payment of the first of four property tax installment payments of certain individuals who are age 65 or older, or disabled, and certain of their surviving spouses, a person to whom this section applies may pay the taxes in four equal installments as provided if the first installment is paid and the required notice is provided before the first day of the first month after the delinquency date. Section 31.031 of the Tax Code, regarding installment payments of certain homestead taxes, would be reenacted to include only one of the three versions adopted in a previous legislative session. The bill could delay the receipt of the first installment payment from certain individuals who are age 65 or older, or disabled, and certain of their surviving spouses by one month, but 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, 2018. 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, 85TH LEGISLATIVE REGULAR SESSION
April 20, 2017
TO: Honorable Jane Nelson, Chair, Senate Committee on Finance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1047 by Creighton (Relating to installment payments of ad valorem taxes.), As Introduced
TO: Honorable Jane Nelson, Chair, Senate Committee on Finance
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB1047 by Creighton (Relating to installment payments of ad valorem taxes.), 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
SB1047 by Creighton (Relating to installment payments of ad valorem taxes.), As Introduced
SB1047 by Creighton (Relating to installment payments of ad valorem taxes.), As Introduced
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend Chapter 31 of the Tax Code, regarding property tax collections, to provide that, notwithstanding the deadline in existing law (the delinquency date - normally February 1) for payment of the first of four property tax installment payments of certain individuals who are age 65 or older, or disabled, and certain of their surviving spouses, a person to whom this section applies may pay the taxes in four equal installments as provided if the first installment is paid and the required notice is provided before the first day of the first month after the delinquency date. Section 31.031 of the Tax Code, regarding installment payments of certain homestead taxes, would be reenacted to include only one of the three versions adopted in a previous legislative session. The bill could delay the receipt of the first installment payment from certain individuals who are age 65 or older, or disabled, and certain of their surviving spouses by one month, but 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, 2018.
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