LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 88TH LEGISLATIVE REGULAR SESSION May 28, 2023 TO: Honorable Dan Patrick, Lieutenant Governor, Senate Honorable Dade Phelan, Speaker of the House, House of Representatives FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB5 by Hunter (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.), Conference Committee Report The fiscal implications of the bill cannot be determined at this time. The bill would create an incentive program to provide temporary and limited incentives for certain eligibile projects. The program would consist of reductions of taxable value for school district maintenance and operations ad valorem taxes.Under provisions of the Education Code, the school district tax revenue loss is partially transferred to the state. The estimated cost to the Foundation School Program (FSP) are expected to be significant but cannot be determined at this time. Local Government ImpactThe fiscal implications of the bill cannot be determined at this time. Source Agencies: b > td > 304 Comptroller of Public Accounts LBB Staff: b > td > JMc, KK, SD, BRI, SZ
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 88TH LEGISLATIVE REGULAR SESSION
May 28, 2023
TO: Honorable Dan Patrick, Lieutenant Governor, Senate Honorable Dade Phelan, Speaker of the House, House of Representatives FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: HB5 by Hunter (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.), Conference Committee Report
TO: Honorable Dan Patrick, Lieutenant Governor, Senate Honorable Dade Phelan, Speaker of the House, House of Representatives
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: HB5 by Hunter (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.), Conference Committee Report
Honorable Dan Patrick, Lieutenant Governor, Senate Honorable Dade Phelan, Speaker of the House, House of Representatives
Honorable Dan Patrick, Lieutenant Governor, Senate Honorable Dade Phelan, Speaker of the House, House of Representatives
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
HB5 by Hunter (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.), Conference Committee Report
HB5 by Hunter (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.), Conference Committee Report
The fiscal implications of the bill cannot be determined at this time.
The fiscal implications of the bill cannot be determined at this time.
The bill would create an incentive program to provide temporary and limited incentives for certain eligibile projects. The program would consist of reductions of taxable value for school district maintenance and operations ad valorem taxes.Under provisions of the Education Code, the school district tax revenue loss is partially transferred to the state. The estimated cost to the Foundation School Program (FSP) are expected to be significant but cannot be determined at this time.
Local Government Impact
The fiscal implications of the bill cannot be determined at this time.
Source Agencies: b > td > 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: b > td > JMc, KK, SD, BRI, SZ
JMc, KK, SD, BRI, SZ