Principle Criteria
Free Enterprise
Property Rights
Personal Responsibility
Limited Government
Individual Liberty
Digest
HB 3037 establishes a temporary reduction in the state sales and use tax rate under specific fiscal conditions. If the state's certification balance from sales tax revenue at the end of a fiscal biennium exceeds 50% of the prior biennium’s balance, the Texas Comptroller must determine a lower tax rate for the next biennium. The reduced rate will be published in the Texas Register and remain in effect until August 31, 2027, when the provision expires​.
Author (1)
Harold Dutton