Texas 2019 - 86th Regular

Texas House Bill HB3626

Caption

Relating to the comptroller's administration of federal money and certain general revenue and to the use of certain general revenue for property tax relief.

Impact

The proposed legislation is set to modify existing state laws by clarifying the role of the comptroller in managing federal funds. Under this new framework, any reduction in funds that would typically go to savings or economic stabilization would instead funnel resources into the property tax relief fund. The intended financial maneuver is designed to help alleviate property taxes while still ensuring that critical federal resources are utilized as per legislative intent. Overall, this could lead to a more structured fiscal environment regarding property tax distribution while directly impacting how residents see relief measures enacted.

Summary

House Bill 3626 aims to amend the administration of federal money and general revenue in Texas, specifically focusing on the handling of funds received from the federal government. The bill establishes a separate account for federal funds, ensuring that these resources are distinctly managed and used for their intended purposes, rather than being mixed with the state’s general revenue fund. This separation is intended to promote transparency and to assure that federal funds do not unintentionally get absorbed into the general revenue pool, which could potentially lead to misallocation or misuse of these funds.

Contention

While HB 3626 holds potential for fiscal improvement concerning federal funds and property tax relief, it can be a topic of contention among various stakeholders. There may be debates regarding the efficiency and effectiveness of designating federal funding in such a manner, with concerns about adequate oversight and the practical implementation of funds being essential. Additionally, how this bill may affect local budgets and state financial ecosystems could prompt further discussions, particularly among local governments dependent on state revenues derived from general funding practices.

Companion Bills

No companion bills found.

Previously Filed As

TX HB4955

Relating to imposing a tax on the generation of electricity by certain electric generators to provide revenue for property tax relief.

TX SB488

Relating to imposing a tax on the generation of electricity by certain electric generators to provide revenue for property tax relief.

TX HJR27

Proposing a constitutional amendment providing for the creation of and use of money in the Grow Texas fund and allocating certain general revenues to that fund, the economic stabilization fund, and the state highway fund.

TX HJR111

Proposing a constitutional amendment providing for the creation of the Texas severance tax revenue and oil and natural gas (Texas STRONG) defense fund, dedicating the money in that fund to benefit areas of the state significantly affected by oil and gas production, and providing for the transfer of certain general revenues to that fund, the economic stabilization fund, the state highway fund, the oil and gas regulation and cleanup account, the Texas emissions reduction plan fund, and the property tax relief fund.

TX HB5

Relating to agreements authorizing a limitation on taxable value of certain property to provide for the creation of jobs and the generation of state and local tax revenue; authorizing fees; authorizing penalties.

TX HB3461

Relating to the creation and re-creation of funds and accounts, the dedication and rededication of revenue and allocation of accrued interest on dedicated revenue, and the exemption of unappropriated money from use for general governmental purposes.

TX SJR41

Proposing a constitutional amendment lowering the maximum allowable amount of money in the economic stabilization fund and dedicating certain general revenue to reducing school district maintenance and operations ad valorem taxes.

TX HB2207

Relating to the allocation of certain constitutional transfers of money to the economic stabilization fund, the state highway fund, the oil and gas regulation and cleanup account, the Texas emissions reduction plan fund, the property tax relief fund, and the Texas severance tax revenue and oil and natural gas (Texas STRONG) defense fund and to the permissible uses of money deposited to the Texas severance tax revenue and oil and natural gas (Texas STRONG) defense fund.

TX HJR1

Proposing a constitutional amendment creating the state school safety fund to provide ongoing financial support for projects that ensure the safety of public schools in this state and providing for the transfer of certain general revenues to that fund, the economic stabilization fund, and the state highway fund.

TX SB1508

Relating to the creation and re-creation of funds and accounts, the dedication and rededication of revenue and allocation of accrued interest on dedicated revenue, and the exemption of unappropriated money from use for general governmental purposes.

Similar Bills

No similar bills found.