LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 88TH LEGISLATIVE REGULAR SESSION April 6, 2023 TO: Honorable Paul Bettencourt, Chair, Senate Committee on Local Government FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB1278 by Bettencourt (Relating to certain public facilities used to provide affordable housing.), As Introduced No significant fiscal implication to the State is anticipated.However, the bill could create an indeterminate revenue gain to the State through the school funding formula by limiting the amount of property that would qualify for future property tax exemptions. The bill would specify that the current property tax exemption for leaseholds or other possessory interest in a public facility applies to a public facility used to provide multifamily housing only if the public facility user meets specified low-income housing occupancy requirements.The bill would exempt materials used by a person receiving a current property tax exemption for leaseholds or other possessory interest in a public facility to improve the real property of the public facility from all sales and use taxes.It is assumed that related administrative costs to the Comptroller of Public Accounts could be absorbed using existing resources. Local Government ImpactThe bill could create an indeterminate revenue gain to local taxing units by limiting the amount of property that would qualify for future property tax exemptions. Source Agencies: b > td > 304 Comptroller of Public Accounts, 332 Department of Housing and Community Affairs, 352 Bond Review Board LBB Staff: b > td > JMc, AF, DPE, CMA
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 88TH LEGISLATIVE REGULAR SESSION
April 6, 2023
TO: Honorable Paul Bettencourt, Chair, Senate Committee on Local Government FROM: Jerry McGinty, Director, Legislative Budget Board IN RE: SB1278 by Bettencourt (Relating to certain public facilities used to provide affordable housing.), As Introduced
TO: Honorable Paul Bettencourt, Chair, Senate Committee on Local Government
FROM: Jerry McGinty, Director, Legislative Budget Board
IN RE: SB1278 by Bettencourt (Relating to certain public facilities used to provide affordable housing.), As Introduced
Honorable Paul Bettencourt, Chair, Senate Committee on Local Government
Honorable Paul Bettencourt, Chair, Senate Committee on Local Government
Jerry McGinty, Director, Legislative Budget Board
Jerry McGinty, Director, Legislative Budget Board
SB1278 by Bettencourt (Relating to certain public facilities used to provide affordable housing.), As Introduced
SB1278 by Bettencourt (Relating to certain public facilities used to provide affordable housing.), As Introduced
No significant fiscal implication to the State is anticipated.However, the bill could create an indeterminate revenue gain to the State through the school funding formula by limiting the amount of property that would qualify for future property tax exemptions.
No significant fiscal implication to the State is anticipated.However, the bill could create an indeterminate revenue gain to the State through the school funding formula by limiting the amount of property that would qualify for future property tax exemptions.
However, the bill could create an indeterminate revenue gain to the State through the school funding formula by limiting the amount of property that would qualify for future property tax exemptions.
The bill would specify that the current property tax exemption for leaseholds or other possessory interest in a public facility applies to a public facility used to provide multifamily housing only if the public facility user meets specified low-income housing occupancy requirements.The bill would exempt materials used by a person receiving a current property tax exemption for leaseholds or other possessory interest in a public facility to improve the real property of the public facility from all sales and use taxes.It is assumed that related administrative costs to the Comptroller of Public Accounts could be absorbed using existing resources.
The bill would specify that the current property tax exemption for leaseholds or other possessory interest in a public facility applies to a public facility used to provide multifamily housing only if the public facility user meets specified low-income housing occupancy requirements.The bill would exempt materials used by a person receiving a current property tax exemption for leaseholds or other possessory interest in a public facility to improve the real property of the public facility from all sales and use taxes.
Local Government Impact
The bill could create an indeterminate revenue gain to local taxing units by limiting the amount of property that would qualify for future property tax exemptions.
Source Agencies: b > td > 304 Comptroller of Public Accounts, 332 Department of Housing and Community Affairs, 352 Bond Review Board
304 Comptroller of Public Accounts, 332 Department of Housing and Community Affairs, 352 Bond Review Board
LBB Staff: b > td > JMc, AF, DPE, CMA
JMc, AF, DPE, CMA