Relating to the inclusion of certain taxes in the comptroller's report on the effect of certain tax provisions.
Impact
If implemented, SB1111 may lead to a more comprehensive understanding of the fiscal implications of current tax policies. By mandating detailed reporting on tax exemptions and related provisions, the bill intends to provide lawmakers with the information necessary to evaluate the effectiveness of these tax benefits. This could result in more informed decision-making regarding future tax legislation and fiscal policy adjustments.
Summary
SB1111 proposes amendments to Section 403.014(a) of the Government Code, which pertains to the comptroller's responsibilities regarding tax provisions. The bill aims to enhance the transparency and accountability of the state's tax policy by requiring the comptroller to report on various types of tax exemptions, discounts, and special methods of reporting that relate to significant sources of state revenue. Specifically, it focuses on taxes generating more than five percent of the state's revenue in the previous fiscal year, including sales, excise, and franchise taxes, as well as motor vehicle and severance taxes.
Contention
While the bill is generally seen as a step towards improving state financial oversight, it may spark discussions around the potential implications of increased scrutiny on existing tax exemptions. Some stakeholders may argue that a more thorough assessment could lead to calls for reducing or eliminating certain tax breaks, which could have economic implications for affected businesses and industries. On the other hand, proponents believe that this level of transparency is essential for fiscal responsibility and could ultimately benefit the state’s economy by ensuring tax policies are equitable and beneficial to residents.
Texas Constitutional Statutes Affected
Government Code
Chapter 403. Comptroller Of Public Accounts
Section: 014
Tax Code
Chapter 151. Limited Sales, Excise, And Use Tax
Section: New Section
Chapter 171. Franchise Tax
Section: New Section
Chapter 1. General Provisions
Section: New Section
Chapter 152. Taxes On Sale, Rental, And Use Of Motor Vehicles
Relating to the elimination of certain property taxes for school district maintenance and operations and the provision of public education funding by increasing the rates of certain state taxes.
Relating to the repeal of or limitations on certain state and local taxes, including school district maintenance and operations ad valorem taxes, the enactment of state and local value added taxes, and related school finance reform; imposing taxes.
Relating to the repeal of or limitations on certain state and local taxes, including school district maintenance and operations ad valorem taxes, the enactment of state and local value added taxes, and related school finance reform; imposing taxes.
Relating to the repeal of or limitations on certain state and local taxes, including school district maintenance and operations ad valorem taxes, the enactment of state and local value added taxes, and related school finance reform; imposing taxes.
Relating to the repeal of or limitations on certain state and local taxes, including school district maintenance and operations ad valorem taxes, the enactment of state and local value added taxes, and related school finance reform; imposing taxes.
Relating to certain laws that regulate aspects of illegal immigration in this state, including laws pertaining to the DNA records of certain persons subject to an immigration detainer request, the recognition of certain out-of-state driver's licenses, inviting certain federal agencies to participate on the homeland security council, the reporting of certain uncompensated hospital care costs, and certain requirements for participation in the E-verify program; increasing a criminal penalty.