Bill

HB 3907

87(R) - 2021
House Ways & Means
House Ways & Means
Insurance
Taxation

Contact the Author

Craig Goldman

Phone:

512-463-0608

Capitol Office:

Room E2.606

Email:

Vote Recommendation

No
  • Negative
  • Neutral
  • Neutral
  • Negative
  • Neutral

Author(s)

Craig Goldman
Angie Chen Button
Morgan Meyer
Eddie Rodriguez
Shawn Thierry

Bill Caption

Relating to a franchise or insurance tax credit for certain housing developments.

Fiscal Notes

Estimated Two­-year Net Impact to General Revenue Related Funds for HB3907, As Introduced: a negative impact of ($9,703,000) through the biennium ending August 31, 2023.

Additionally, the bill will have a direct impact of a revenue loss to the Property Tax Relief Fund of ($6,294,000) for the 2022­23 biennium.  Any loss to the Property Tax Relief Fund must be made up with an equal amount of General Revenue to fund the Foundation School Program.

Annual reductions in net tax revenue would continue to escalate as additional annual credit award cohorts cumulate; by 2032 estimated total state tax revenue reductions would exceed $188 million. 

Bill Analysis

HB 3907 would create a new tax credit for a taxable entity if they own interest in certain qualified developments and would allow for carry-forward or backward and recapture of this tax credit. 

Vote Recommendation Notes

Texas Action opposes HB 3907 because it gives preferential treatment to a certain class of taxpayers. Taxes should be the lowest rate and applied across the broadest base.  

Contact the Author

Craig Goldman

Phone:

512-463-0608

Capitol Office:

Room E2.606

Email: