| |
| |
| |
|
|
AN ACT
|
|
|
relating to the preparation by the Legislative Budget Board of a |
|
|
dynamic fiscal impact statement for certain bills and joint |
|
|
resolutions affecting taxes and fees. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Chapter 314, Government Code, is amended by |
|
|
adding Section 314.005 to read as follows: |
|
|
Sec. 314.005. DYNAMIC FISCAL IMPACT STATEMENT ON TAX OR FEE |
|
|
MEASURE. (a) The board shall prepare a dynamic fiscal impact |
|
|
statement for each bill or joint resolution: |
|
|
(1) that raises or lowers the rate or amount of a tax |
|
|
or fee or proposes an amendment to the Texas Constitution that would |
|
|
raise or lower the rate or amount of a tax or fee; and |
|
|
(2) for which a fiscal note is prepared indicating a |
|
|
positive or negative impact on revenue of at least $75 million |
|
|
annually. |
|
|
(b) The dynamic fiscal impact statement must, based on |
|
|
dynamic scoring principles, project for the five-year period |
|
|
beginning on the proposed effective date of the change in the rate |
|
|
or amount of the tax or fee the estimated fiscal and economic |
|
|
impacts of raising or lowering the rate or amount of the tax or fee |
|
|
as proposed, including the impact on: |
|
|
(1) tax or fee receipts; and |
|
|
(2) the costs of the specific program, if any, that the |
|
|
tax or fee is designed to directly support. |
|
|
(c) In this section, "dynamic scoring principles" means a |
|
|
method of estimating the pace of economic growth or the change in |
|
|
the aggregate level of economic output and incomes, in response to a |
|
|
change in the rate or amount of a tax or fee, that takes into |
|
|
consideration factors including: |
|
|
(1) the direct impact on tax or fee receipts and, if |
|
|
the tax or fee is designed to directly support a specific program, |
|
|
on program costs; |
|
|
(2) the effects on incentives to work, save, invest, |
|
|
and conduct economic affairs; |
|
|
(3) the resulting change in the overall level of |
|
|
economic activity; |
|
|
(4) the impact of the resulting higher or lower level |
|
|
of economic activity on tax or fee receipts and, if the tax or fee is |
|
|
designed to directly support a specific program, on program costs; |
|
|
and |
|
|
(5) a calculation of the net impact of the legislation |
|
|
proposing the change on the unified budget. |
|
|
(d) The dynamic fiscal impact statement must be attached to |
|
|
the bill or resolution immediately following the fiscal note |
|
|
attached under Section 314.003. |
|
|
(e) On the fifth anniversary of the effective date of a bill |
|
|
that becomes law for which a dynamic fiscal impact statement was |
|
|
prepared under this section, the comptroller shall prepare and |
|
|
submit to the presiding officer of each house of the legislature a |
|
|
report that assesses the accuracy of the relevant fiscal note |
|
|
prepared for the bill and the accuracy of the relevant dynamic |
|
|
fiscal impact statement prepared for the bill. |
|
|
SECTION 2. Section 314.004(c), Government Code, is amended |
|
|
to read as follows: |
|
|
(c) The impact statement must be attached to the bill or |
|
|
resolution immediately following: |
|
|
(1) the fiscal note attached under Section 314.003; or |
|
|
(2) if a dynamic fiscal impact statement is prepared |
|
|
under Section 314.005, the dynamic fiscal impact statement. |
|
|
SECTION 3. This Act takes effect September 1, 2009. |
| |
| |
| |
______________________________ |
______________________________ |
| |
President of the Senate |
Speaker of the House |
| |
| |
|
|
I certify that H.B. No. 464 was passed by the House on May 15, |
|
|
2009, by the following vote: Yeas 139, Nays 0, 1 present, not |
|
|
voting; and that the House concurred in Senate amendments to H.B. |
|
|
No. 464 on May 29, 2009, by the following vote: Yeas 142, Nays 0, 1 |
|
|
present, not voting. |
|
|
|
|
|
______________________________ |
|
|
Chief Clerk of the House |
| |
|
|
I certify that H.B. No. 464 was passed by the Senate, with |
|
|
amendments, on May 26, 2009, by the following vote: Yeas 30, Nays |
|
|
1. |
|
|
|
|
|
______________________________ |
|
|
Secretary of the Senate |
|
|
APPROVED: __________________ |
|
|
Date |
|
|
|
|
|
__________________ |
|
|
Governor |