Relating to the allocation of taxable value of certain certificated air carriers.
Impact
If enacted, HB 4741 will directly affect the taxation framework for air carriers operating within Texas. The change could have financial implications for both the state government and the air carrier industry, as it aims to standardize how taxable values are determined. By providing specific guidelines for allocating taxable values, the bill seeks to enhance the clarity and consistency of how air carriers are taxed, potentially aiding in financial planning for those operators and the state’s fiscal management.
Summary
House Bill 4741 proposes amendments to the Tax Code of Texas, specifically focusing on the allocation of taxable value for certain certificated air carriers. The bill outlines definitions for what constitutes a certificated air carrier and clarifies their operations under the jurisdiction of the U.S. Department of Transportation. This legislation aims to streamline the taxation process for these carriers, potentially impacting state revenues by adjusting how these entities are assessed for tax purposes.
Contention
While the bill seems to present an opportunity for regulatory clarity, potential points of contention could arise from stakeholders who may feel that changing the taxable value allocation could disadvantage certain air carriers or affect competitive dynamics within the aviation sector. Concerns may be voiced regarding how these amendments may alter existing tax liabilities and whether they adequately consider the varying scales and operations of different certificated air carriers.
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.
Relating to the issuance of a temporary teaching certificate to and requirements regarding educator certification for certain persons with experience as instructors for the Community College of the Air Force.
Relating to state and municipal motor fuel taxes; providing civil penalties; creating criminal offenses; requiring occupational licenses; authorizing the imposition of taxes; providing for increases and decreases in the rates of taxes.
Relating to the establishment of a certification program for public work contracting purposes for operators of certain facilities that emit air contaminants.