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Estimated Two-year Net Impact to General Revenue Related Funds for HB297, Committee Report 1st House, Substituted: an impact of $0 through the biennium ending August 31, 2021. However, there would be a negative impact of ($58,468,800,000) through the biennium ending August 31, 2023.
The bill would make no appropriation but could provide the legal basis for an appropriation of
funds to implement the provisions of the bill.
Texas Action supports HB 297 for promoting the principles of limited government and property rights. This bill would help to greatly reduce the property tax burden on Texans by abolishing the authority of school districts to impose them entirely. Any property tax reductions compensated for by a consumption tax should be permanent and meaningful; a solution which this bill would achieve.