LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION April 6, 2017 TO: Honorable Jane Nelson, Chair, Senate Committee on Finance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1407 by Taylor, Van (Relating to the information required to be included in or with a school district ad valorem tax bill.), As Introduced No fiscal implication to the State is anticipated. The bill amends Section 31.01 of the Tax Code, related to property tax bills, to require on property tax bills (or on a separate statement) for school districts subject to recapture to include information regarding the percentage of maintenance and operation (M&O) taxes imposed for that year that is required to go to the state for the purchase of attendance credits and the percentage of these taxes that is not required to go to the state for that purpose. Property tax bills (or separate statements) for other school districts would be required to include the percentages of M&O revenue for the preceding and current year that was derived from M&O taxes imposed by the school district for each of those years and the percentage of that revenue for the preceding and current year derived from state funds.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, 701 Texas Education Agency LBB Staff: UP, KK, SD, SJS
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 85TH LEGISLATIVE REGULAR SESSION
April 6, 2017
TO: Honorable Jane Nelson, Chair, Senate Committee on Finance FROM: Ursula Parks, Director, Legislative Budget Board IN RE:SB1407 by Taylor, Van (Relating to the information required to be included in or with a school district ad valorem tax bill.), As Introduced
TO: Honorable Jane Nelson, Chair, Senate Committee on Finance
FROM: Ursula Parks, Director, Legislative Budget Board
IN RE: SB1407 by Taylor, Van (Relating to the information required to be included in or with a school district ad valorem tax bill.), 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
SB1407 by Taylor, Van (Relating to the information required to be included in or with a school district ad valorem tax bill.), As Introduced
SB1407 by Taylor, Van (Relating to the information required to be included in or with a school district ad valorem tax bill.), As Introduced
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill amends Section 31.01 of the Tax Code, related to property tax bills, to require on property tax bills (or on a separate statement) for school districts subject to recapture to include information regarding the percentage of maintenance and operation (M&O) taxes imposed for that year that is required to go to the state for the purchase of attendance credits and the percentage of these taxes that is not required to go to the state for that purpose. Property tax bills (or separate statements) for other school districts would be required to include the percentages of M&O revenue for the preceding and current year that was derived from M&O taxes imposed by the school district for each of those years and the percentage of that revenue for the preceding and current year derived from state funds.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, 701 Texas Education Agency
304 Comptroller of Public Accounts, 701 Texas Education Agency
LBB Staff: UP, KK, SD, SJS
UP, KK, SD, SJS