LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION May 5, 2017 TO: Honorable Jane Nelson, Chair, Senate Committee on Finance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1360 by Watson (relating to the information required to be included in or with a school district ad valorem tax bill.), Committee Report 1st House, Substituted No fiscal implication to the State is anticipated. The bill amends Chapter 31 of the Tax Code, regarding property tax collections, to require a tax bill or a separate statement for property that is located in a school district that has entered into a recapture agreement with the commissioner of education to purchase average daily attendance credits to include specified language relating to:1) the school district property tax due; and2) the dollar amount of property tax that will go to fund maintenance and operations, bonded indebtedness, and to the state. The school district tax assessor would be required to compute these amounts for the current tax year as specified. In a school district that is entitled to state aid under Chapter 42 of the Education Code, regarding the foundation school program, the tax bill or separate statement would be required to include specified language relating to:1) the total amount of revenue the school district will receive from the property;2) the amount of that revenue that will fund maintenance and operations; and3) the amount of that revenue that will fund bonded indebtedness. The school district tax assessor would be required to compute these amounts for the current tax year as specified. 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, 2018. Local Government Impact No significant 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
May 5, 2017
TO: Honorable Jane Nelson, Chair, Senate Committee on Finance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1360 by Watson (relating to the information required to be included in or with a school district ad valorem tax bill.), Committee Report 1st House, Substituted
TO: Honorable Jane Nelson, Chair, Senate Committee on Finance
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB1360 by Watson (relating to the information required to be included in or with a school district ad valorem tax bill.), Committee Report 1st House, Substituted
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
SB1360 by Watson (relating to the information required to be included in or with a school district ad valorem tax bill.), Committee Report 1st House, Substituted
SB1360 by Watson (relating to the information required to be included in or with a school district ad valorem tax bill.), Committee Report 1st House, Substituted
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill amends Chapter 31 of the Tax Code, regarding property tax collections, to require a tax bill or a separate statement for property that is located in a school district that has entered into a recapture agreement with the commissioner of education to purchase average daily attendance credits to include specified language relating to:1) the school district property tax due; and2) the dollar amount of property tax that will go to fund maintenance and operations, bonded indebtedness, and to the state. The school district tax assessor would be required to compute these amounts for the current tax year as specified. In a school district that is entitled to state aid under Chapter 42 of the Education Code, regarding the foundation school program, the tax bill or separate statement would be required to include specified language relating to:1) the total amount of revenue the school district will receive from the property;2) the amount of that revenue that will fund maintenance and operations; and3) the amount of that revenue that will fund bonded indebtedness. The school district tax assessor would be required to compute these amounts for the current tax year as specified. 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, 2018.
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, KK, SD, SJS
UP, KK, SD, SJS