Bill Text: TX HB3541 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Relating to temporarily decreasing the rate of state sales and use taxes under certain circumstances.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2023-03-16 - Referred to Ways & Means [HB3541 Detail]
Download: Texas-2023-HB3541-Introduced.html
| 88R8731 SRA-D | ||
| By: Dutton | H.B. No. 3541 | |
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| relating to temporarily decreasing the rate of state sales and use | ||
| taxes under certain circumstances. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subchapter C, Chapter 151, Tax Code, is amended | ||
| by adding Section 151.0511 to read as follows: | ||
| Sec. 151.0511. TEMPORARY DECREASE IN TAX RATE; CONDITIONS. | ||
| (a) Using any available methods and revenue estimates, the | ||
| comptroller shall: | ||
| (1) determine the amount of the ending certification | ||
| balance for the state fiscal biennium ending August 31, 2023, that | ||
| is attributable to revenue during that state fiscal biennium from | ||
| the taxes imposed under this chapter; | ||
| (2) determine the amount, if any, of the estimated | ||
| ending certification balance for the state fiscal biennium ending | ||
| August 31, 2025, that is attributable to revenue during that state | ||
| fiscal biennium from the taxes imposed under this chapter if those | ||
| taxes are imposed at the tax rate provided by Section 151.051(b); | ||
| and | ||
| (3) if the amount determined under Subdivision (2) is | ||
| more than 50 percent of the amount determined under Subdivision | ||
| (1): | ||
| (A) determine the tax rate that, when substituted | ||
| for the tax rate described by Subdivision (2), results in the amount | ||
| determined under Subdivision (2) equaling 50 percent of the amount | ||
| determined under Subdivision (1); and | ||
| (B) publish the tax rate determined under | ||
| Paragraph (A) in the Texas Register and on the comptroller's | ||
| Internet website and provide notice of that tax rate to sales tax | ||
| permit holders. | ||
| (b) If the condition provided by Subsection (a)(3) is | ||
| satisfied, the rate of the sales tax and use tax under this chapter | ||
| applicable in the state fiscal biennium ending August 31, 2025, is | ||
| the rate determined under Subsection (a)(3)(A), notwithstanding | ||
| Section 151.051(b). | ||
| (c) This section expires December 1, 2025. | ||
| SECTION 2. This Act takes effect immediately if it receives | ||
| a vote of two-thirds of all the members elected to each house, as | ||
| provided by Section 39, Article III, Texas Constitution. If this | ||
| Act does not receive the vote necessary for immediate effect, this | ||
| Act takes effect September 1, 2023. | ||
