The text as introduced · 349 words
89R11814 SRA-D
By: Dutton
H.B. No. 3037
A BILL TO BE ENTITLED
AN ACT
relating to temporarily decreasing the rate of state sales and use
taxes under certain circumstances.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter C, Chapter 151, Tax Code, is amended
by adding Section 151.0511 to read as follows:
Sec. 151.0511. TEMPORARY DECREASE IN TAX RATE; CONDITIONS.
(a) Using any available methods and revenue estimates, the
comptroller shall:
(1) determine the amount of the ending certification
balance for the state fiscal biennium ending August 31, 2025, that
is attributable to revenue during that state fiscal biennium from
the taxes imposed under this chapter;
(2) determine the amount, if any, of the estimated
ending certification balance for the state fiscal biennium ending
August 31, 2027, that is attributable to revenue during that state
fiscal biennium from the taxes imposed under this chapter if those
taxes are imposed at the tax rate provided by Section 151.051(b);
and
(3) if the amount determined under Subdivision (2) is
more than 50 percent of the amount determined under Subdivision
(1):
(A) determine the tax rate that, when substituted
for the tax rate described by Subdivision (2), results in the amount
determined under Subdivision (2) equaling 50 percent of the amount
determined under Subdivision (1); and
(B) publish the tax rate determined under
Paragraph (A) in the Texas Register and on the comptroller's
Internet website and provide notice of that tax rate to sales tax
permit holders.
(b) If the condition provided by Subsection (a)(3) is
satisfied, the rate of the sales tax and use tax under this chapter
applicable in the state fiscal biennium ending August 31, 2027, is
the rate determined under Subsection (a)(3)(A), notwithstanding
Section 151.051(b).
(c) This section expires December 1, 2027.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2025.