Sources of Revenue: A History of State Taxes and Fees in Texas, 1972-2013 Page: 55
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SOURCES OF REVENUE
related funds and the.State Highway Fund in the 2008-09
biennium.
(HB 3314 included the sales tax holiday provisions
also included in HB 3319. Those changes are explained in
the discusion under HB 3319.)
HB 3315 increased the Volunteer Fire Department
Assistance Fund assessments levied on certain property
and casualty insurance premiums at rates sufficient to
yield aggregate annual receipts of $30 million (an increase
of $15 million), and repealed the assessment's expiration
date. This change took effect June 15, 2007.
HB 3315 also authorized the Comptroller to enter into
agreements with other states relating to retaliatory taxes
and collection of Insurance Premium taxes on multi-state
surplus lines and independently procured insurance, for
which there would be no significant fiscal impact. The bill
repealed provisions relating to the treatment of certified
capital company premium tax credits under the retaliatory
tax to make Texas law consistent with other states' laws,
for which the fiscal impact cannot be estimated. These
changes took effect June 15, 2007.
HB 3319 amended Sales and Use tax law to exclude
certain landman services from the definition of real prop-
erty services; to clarify the definition of "sale for resale"
regarding the transfer of a wireless voice communication
device; to require ready-mix concrete contractors to collect
and remit the tax and include on sales invoices quantities
produced and consumed; to remove tax exemption lim-
itations for pharmaceutical biotechnology cleanrooms; to
move the start date for the annual clothing and footwear
tax holiday and to add an exemption for certain back-
packs; to make technical changes or clarifications to the
exemptions for drugs or medicines, tree seedlings grown
for commercial timber, and aircraft; and to make various
changes affecting local sales taxes. The sales tax holiday
provisions took effect June 15, 2007 and the other provi-
sions took effect September 1, 2007, resulting in a loss to
general revenue of $101,000 in fiscal 2007 and a gain of
$333,000 in the 2008-09 biennium. (This bill's sales tax
holiday provisions were also included in HB 3314)
HB 3319 also exempted from the Motor Vehicle Sales
and Use tax a hydrogen power-capable vehicle with afuel economy rating of at least 45 miles per gallon, or a
fully hydrogen-powered vehicle. This change took effect
September 1, 2007-, and the fiscal impact for the 2008-09
biennium could not be estimated.
HB 3554 continued the Petroleum Products Delivery
fee through August 31, 2011 and reduced the fee's rate
schedule. In addition, the bill eliminated the storage tank
registration fee. This change was estimated to produce
$1.2 million gain in general revenue, a $60.4 million gain
for the Petroleum Storage Tank Remediation Account and
a $6.5 million loss for the Waste Management Account in
fiscal 2008-09. This change took effect September 1, 2007.
HB 3693 exempted certain energy-efficient prod-
ucts from the Sales and Use tax during the Memorial
Day holiday weekend each year. This change took effect
September 1, 2007 and had estimated losses to general
revenue of $4.6 million in the 2008-09 biennium.
HB 3694 provided a Franchise tax credit for certain
capital investments in qualifying enterprise zone projects
and a Sales and Use tax refund for taxable items purchased
for use at a qualified business site related to an enterprise
zone project or activity. This change took effect September
1, 2007 and had estimated losses to general revenue of
$4.4 million and $9.6 million to the Property Tax Relief
Fund in the 2008-09 biennium.
HB 3928 made revisions to the Franchise tax to pro-
vide a tax discount on a sliding scale for taxpayers with
total revenue between $300,000 and $900,000, provide an
alternative tax calculation for certain taxpayers with less
than $10 million in total revenue, and provide that a tax-
payer's gross proceeds from the sale of a loan or security
treated as inventory of the seller for federal income tax
purposes would be considered gross receipts for appor-
tionment. Those provisions' revenue losses were offset
by partnerships rental incomes reporting, as well as by
other minor changes. These changes took effect January 1,
2008, and had no significant fiscal impact in the 2008-09
biennium.
SB 12 extended the expiration dates of surcharges
supporting the Texas Emissions Reduction Plan (TERP)
Fund by three years, to August 31, 2013. These surcharges
included the Sales and Use tax surcharge of 2 percent onTexas Comptroller of Public Accounts, June 2014 " 55
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Texas. Comptroller's Office. Sources of Revenue: A History of State Taxes and Fees in Texas, 1972-2013, article, June 2014; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth639576/m1/63/: accessed April 28, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.