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<br />80eR) HB 621 - Enrolled version - Fiscal Note <br /> <br />http://www.capitol.state.tx.usltlodocs/80Rltiscalnotes/ht. .. <br /> <br />conduct a property value study to determine the total taxable value for each <br />school district. Total taxable value is an element in the state's school <br />funding formula. Depending on the number of school districts allowing the <br />exemption, the state would reimburse school districts an undetermined <br />amount of funding for this exemption, after a one-year lag. <br /> <br />The bill is estimated to have an impact on the state aid districts receive <br />based on the enrichment tier as tied to the yield of the Austin Independent <br />School District (ISD). To the extent that the bill has the effect of lessening <br />Austin lSD's revenue per weighted student per penny of tax effort, as <br />determined by the Commissioner of Education, the equalized yield on those <br />enrichment pennies would decrease, resulting in a decrease in state aid. <br /> <br />Local Government Impact <br /> <br />Because it is not known how many taxing unit governing bodies might vote <br />to continue taxing the covered items, the fiscal impact cannot be <br />determined. The fiscal impact table provides an illustrative example only. <br />Appraisal district information about the potential value loss to the proposed <br />bill was trended over the proj ection period to estimate the value loss in <br />each year. The appropriate taxing unit rates were applied to estimate the <br />levy loss. Information was not available to estimate special district losses. <br /> <br />In addition, with respect to school districts, the mechanics of the school <br />finance system would likely transfer the initial fiscal impacts to the state, <br />resulting in a zero or negligible fiscal impact to the school districts. Initial <br />school district losses are shown, even though the operation of the "hold <br />harmless" feature ofHB 1, 79th Legislature, Third Called Session (2006), <br />would likely transfer the losses to the state causing a net school district loss <br />of zero. <br /> <br />Source <br />Agencies: <br /> <br />304 Comptroller of Public Accounts <br /> <br />LBB Staff: JOB, CT, SD, SJS <br /> <br />40f4 <br /> <br />7/3/20079:08 Ail <br />