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F I S C A L I M P A C T R E P O R T
SPONSOR Taylor
ORIGINAL DATE
LAST UPDATED
2/2/07
3/15/07 HB
SHORT TITLE Tolling Time Limit For Tax Court Action
SB 343/aSFL#1/aHTRC
ANALYST Francis
REVENUE (dollars in thousands)
Estimated Revenue
Recurring
or Non-Rec
Fund
Affected
FY07
FY08
FY09
NFI
Recurring General Fund
(Parenthesis ( ) Indicate Revenue Decreases)
Relates to SB795
SOURCES OF INFORMATION
LFC Files
Responses Received From
Energy Minerals and Natural Resources (EMNR)
Taxation and Revenue Department (TRD)
SUMMARY
Synopsis of HTRC amendment
The House Taxation and Revenue Committee struck the Senate Floor Amendment to Senate Bill
343, restoring the bill to its original state.
Synopsis of SFL #1
Senate Bill 343 was amended on the Senate Floor to expand the credit to limited liability
companies or business associations. This would allow builders and developers to take advantage
of the credit.
Synopsis of Original Bill
Senate Bill 343 makes several technical corrections to the tax statutes:
•
Section 1: In the section of the statute governing the secretary of the Taxation and