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TTARA Update From the Tax Front: Revenues, the Budget, and Tax Relief

February 1, 2013 Revenues, the Budget, and Tax Relief Comptroller Combs may have surprised lawmakers with a somewhat higher revenue estimate than many anticipated. The House and Senate had been working on slightly different budget packages, but both tallied well below the Comptroller’s estimate of available revenues—roughly $5.5 billion, or about 6 percent of discretionary…

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TTARA Update from the Tax Front

LBB Recommends Tax Changes For the past several years, the staff of the Legislative Budget Board prepare a Texas Government Effectiveness and Efficiency Report (GEER). Typically contained within the report are a handful of tax and fee recommendations that often range from meddlesome to troubling, and the 2013 edition does not disappoint. These proposals will…

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TTARA Update on Prop 2 Redo

TTARA Update on Prop 2 Redo The TCEQ’s Tax Relief for Pollution Control Advisory Committee plans to take up the issue of possible revisions and/or alternatives to the Cost Analysis Procedure (CAP), the formula used by the agency to determine the percentage of property used for pollution control (entitled to exemption) if it also serves…

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TTARA Update from the Tax Front

Lawmakers Convene Next Tuesday: Good Fiscal News Awaits Without question, 2011 was a tough time to be a Texas legislator. When the gavel dropped on the start of the regular session lawmakers were greeted with a revenue forecast of impending doom—a record $4.3 billion deficit and a $27 billion gap for writing the upcoming state…

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