LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION April 19, 2021 TO: Honorable Paul Bettencourt, Chair, House Committee on Local Government FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB2429 by Meyer (Relating to the alternate provisions for ad valorem tax rate notices when the de minimis rate of a taxing unit exceeds the voter-approval tax rate.), As Engrossed No fiscal implication to the State is anticipated. The bill would amend Chapter 26 of the Tax Code, regarding property taxation and assessment, to add language to required tax rate notices for taxing units that are not required to hold a tax rate election and for which qualified voters may not petition to hold an election. The bill would require the notice to include the de minimis rate in the list of rates and definitions for de minimis rate and voter-approval tax rate. The bill would not affect taxable property values, tax rates, collection rates, or any other variable that might affect the revenues of units of local governments or the state.This bill would take effect immediately upon enactment if it receives the requisite two-thirds majority votes in both houses of the Legislature. Otherwise, it would take effect September 1, 2021. Local Government ImpactNo fiscal implication to units of local government is anticipated. Source Agencies: b > td > 304 Comptroller of Public Accounts LBB Staff: b > td > JMc, AF, BRI, KK, SD
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 87TH LEGISLATIVE REGULAR SESSION
April 19, 2021
TO: Honorable Paul Bettencourt, Chair, House Committee on Local Government FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB2429 by Meyer (Relating to the alternate provisions for ad valorem tax rate notices when the de minimis rate of a taxing unit exceeds the voter-approval tax rate.), As Engrossed
TO: Honorable Paul Bettencourt, Chair, House Committee on Local Government
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: HB2429 by Meyer (Relating to the alternate provisions for ad valorem tax rate notices when the de minimis rate of a taxing unit exceeds the voter-approval tax rate.), As Engrossed
Honorable Paul Bettencourt, Chair, House Committee on Local Government
Honorable Paul Bettencourt, Chair, House Committee on Local Government
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
HB2429 by Meyer (Relating to the alternate provisions for ad valorem tax rate notices when the de minimis rate of a taxing unit exceeds the voter-approval tax rate.), As Engrossed
HB2429 by Meyer (Relating to the alternate provisions for ad valorem tax rate notices when the de minimis rate of a taxing unit exceeds the voter-approval tax rate.), As Engrossed
No fiscal implication to the State is anticipated.
No fiscal implication to the State is anticipated.
The bill would amend Chapter 26 of the Tax Code, regarding property taxation and assessment, to add language to required tax rate notices for taxing units that are not required to hold a tax rate election and for which qualified voters may not petition to hold an election. The bill would require the notice to include the de minimis rate in the list of rates and definitions for de minimis rate and voter-approval tax rate. The bill would not affect taxable property values, tax rates, collection rates, or any other variable that might affect the revenues of units of local governments or the state.This bill would take effect immediately upon enactment if it receives the requisite two-thirds majority votes in both houses of the Legislature. Otherwise, it would take effect September 1, 2021.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: b > td > 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: b > td > JMc, AF, BRI, KK, SD
JMc, AF, BRI, KK, SD