TITLE

Texas School Bill Could Create Tax Revenue Gap

PUB. DATE
March 2005
SOURCE
Bond Buyer;3/24/2005, Vol. 351 Issue 32097, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Texas lawmakers recently learned that a school finance bill recently approved by the House of Representatives may not be as fiscally sound as originally believed. The Texas House approved House Bill 3, which increases state sales tax and redefines state business taxes to bridge a funding gap caused by lowered property tax rates and higher costs associated with more stringent educational policies. The current franchise tax has a number of loopholes, meaning that only about one in six Texas companies actually pays it.
ACCESSION #
16523938

 

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