Bill

HJR 140

87(R) - 2021
House Ways & Means
House Ways & Means
Finance
Resolutions
Taxation

Contact the Author

Chris Paddie

Phone:

512-463-0556

Capitol Office:

E2.502

Email:

Vote Recommendation

Yes
  • Positive
  • Neutral
  • Neutral
  • Positive
  • Neutral

Author(s)

Chris Paddie

Bill Caption

Proposing a constitutional amendment prohibiting the enactment of a law that imposes a tax on certain transactions that either convey a security or involve specified derivative contracts.

Fiscal Notes

No fiscal implication to the State is anticipated, other team the cost of publication.

The cost to the state for publication of the resolution is $179,333.

Bill Analysis

HJR 140 proposes a constitutional amendment to prohibit the enactment of any law after January 1, 2022 that imposes an occupation tax upon a Registered Securities Marker Operator or a tax upon a securities transaction of a Registered Securities Market Operator.

The resolution does not prohibit the imposition of a general business tax measured by business activity; a tax on the production of minerals; a tax on insurance premiums; a general sales tax on tangible personal property or services; a fee based on the cost of processing documents; or the change of a rate of a tax in existence on January 1, 2022.

Vote Recommendation Notes

Texas Action supports HJR 140 which is consistent with our limited government and individual liberty principles. 

Contact the Author

Chris Paddie

Phone:

512-463-0556

Capitol Office:

E2.502

Email: