Committee hears HB 3 changes
Committee hears HB 3 changes - The Daily Texan - State & Local: "The Senate Finance Committee began the amendment process Tuesday on House Bill 3, which represents the revenue side of school finance reform and attempts to lower property taxes and replace the lost revenue with other tax increases.
Chairman Sen. Steve Ogden, R-Bryan, opened by reminding the committee members that HB 3 still has no fiscal note, an estimation of the cost, or tax equity note, a description of how the tax will be applied.
State Sen. Eliot Shapleigh, D-El Paso, told the committee it was difficult for him to consider adding or deleting amendments to the bill without some idea of what the bill costs. He also noted that the House version of the bill gave Texas families in the top 10 percent income bracket a tax cut, while middle- and low-income families would get a greater tax burden. Shapleigh said he would have a problem voting for any version of the bill without an idea of the bill's impact."
Chairman Sen. Steve Ogden, R-Bryan, opened by reminding the committee members that HB 3 still has no fiscal note, an estimation of the cost, or tax equity note, a description of how the tax will be applied.
State Sen. Eliot Shapleigh, D-El Paso, told the committee it was difficult for him to consider adding or deleting amendments to the bill without some idea of what the bill costs. He also noted that the House version of the bill gave Texas families in the top 10 percent income bracket a tax cut, while middle- and low-income families would get a greater tax burden. Shapleigh said he would have a problem voting for any version of the bill without an idea of the bill's impact."
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