Bill Text: TX HB869 | 2011-2012 | 82nd Legislature | Introduced
Bill Title: Relating to the franchise tax and alternative revenue sources and spending priorities for this state.
Sponsorship: Partisan Bill (Republican 1)
Status: (Introduced - Dead) 2011-05-02 - No action taken in committee [HB869 Detail]
Download: Texas-2011-HB869-Introduced.html
| 82R5118 KLA-D | ||
| By: Creighton | H.B. No. 869 | |
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| relating to the franchise tax and alternative revenue sources and | ||
| spending priorities for this state. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. This Act may be cited as the Revenue Reform Act | ||
| of 2011. | ||
| SECTION 2. (a) The comptroller of public accounts shall | ||
| conduct a comprehensive study that: | ||
| (1) analyzes and compares: | ||
| (A) the feasibility of implementing alternative | ||
| methods to the franchise tax imposed under Chapter 171, Tax Code, by | ||
| which revenue may be generated to address the needs of this state; | ||
| and | ||
| (B) the effectiveness of each of those methods in | ||
| generating sufficient revenue to address those needs; and | ||
| (2) prioritizes the revenue needs of this state and | ||
| identifies potential reductions in expenditures by this state. | ||
| (b) The comptroller of public accounts shall consider the | ||
| funding priorities and requirements established by the Texas | ||
| Constitution in prioritizing the revenue needs of this state as | ||
| required by Subsection (a)(2) of this section. | ||
| (c) The study conducted under Subsection (a) of this section | ||
| must include an analysis and comparison of the following | ||
| revenue-generating methods: | ||
| (1) imposing a transaction tax in this state; | ||
| (2) imposing a value-added tax in this state; | ||
| (3) eliminating exemptions from the sales and use tax | ||
| imposed under Chapter 151, Tax Code; | ||
| (4) increasing the rate of the sales and use tax | ||
| imposed under Chapter 151, Tax Code; | ||
| (5) imposing the sales and use tax under Chapter 151, | ||
| Tax Code, according to rate brackets, the applications of which | ||
| vary according to the sales price of a taxable item; | ||
| (6) imposing a business sales tax in this state in | ||
| addition to the sales and use tax imposed under Chapter 151, Tax | ||
| Code; and | ||
| (7) any other method the comptroller of public | ||
| accounts considers potentially effective in addressing the revenue | ||
| needs of this state. | ||
| (d) Not later than November 1, 2012, the comptroller of | ||
| public accounts shall submit a report to the legislature regarding | ||
| the results of the study conducted under this section. The report | ||
| must: | ||
| (1) identify one or more revenue-generating methods | ||
| the comptroller determines would be most effective in meeting the | ||
| revenue needs of this state; | ||
| (2) include a description of any legislation necessary | ||
| to implement the methods identified under Subdivision (1) of this | ||
| subsection; and | ||
| (3) propose specific reductions in expenditures by | ||
| this state and any legislation necessary to implement those | ||
| reductions. | ||
| SECTION 3. Section 1(c), Chapter 286 (H.B. 4765), Acts of | ||
| the 81st Legislature, Regular Session, 2009, is repealed. | ||
| SECTION 4. Section 2, Chapter 286 (H.B. 4765), Acts of the | ||
| 81st Legislature, Regular Session, 2009, which amended former | ||
| Subsection (d), Section 171.002, Tax Code, is repealed. | ||
| SECTION 5. Section 3, Chapter 286 (H.B. 4765), Acts of the | ||
| 81st Legislature, Regular Session, 2009, which amended former | ||
| Subsection (a), Section 171.0021, Tax Code, is repealed. | ||
| SECTION 6. Section 171.0021, Tax Code, is repealed. | ||
| SECTION 7. Effective January 1, 2016, Chapter 171, Tax | ||
| Code, is repealed. | ||
| SECTION 8. Except as otherwise provided by this Act, this | ||
| Act takes effect September 1, 2011. | ||
