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Relating to eligible costs and expenses for purposes of the franchise tax credit for the certified rehabilitation of certified historic structures.
Estimated two-year net impact to general revenue related funds for HB 3777, Committee Report 1st House, substituted: a positive impact of $7,590,000 through the biennium ending August 31, 2023.
Additionally, the bill will have a direct impact of a revenue gain to the Property Tax Relief Fund of $4,910,000 for the 2022-2023 biennium. Any gain to the Property Tax Relief Fund will result in an equal amount of savings to General Revenue to funding the Foundation School Program.
Texas Action is neutral on HB 3777.