Bill
SB 17
85(R) - 2017
Senate Finance
Senate Finance
Taxation
Vote Recommendation
Yes
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Positive
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Neutral
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Positive
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Positive
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Neutral
Author(s)
Jane Nelson
Bill Caption
Relating to the decrease of the rates of the franchise tax under certain circumstances and the expiration of that tax.
Bill Analysis
SB 17 would require the comptroller to determine the percentage change of general-revenue related funds available for certification from the current biennium to the next biennium. If the percentage is greater than five percent, half of the excess revenue will be used to reduce the franchise tax rate for the next state fiscal biennium. This chapter will expire on the last day of the year the rates of the franchise tax are reduced to zero.
Vote Recommendation Notes
Texas Action supports this bill. SB 17 upholds our values of limited government, personal responsibility, and free markets by cutting the business franchise tax rate until it reaches zero. Lowering this tax rate would increase the freedom of Texas businesses, reduce their costs, create economic opportunities, and return money back to the taxpayers. Because of this, we support this bill.
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