34 TAC §9.102
The Comptroller of Public Accounts proposes a new §9.102,
concerning certification of property value reduction. The new rule is proposed
to implement Senate Bill 7, 76th Legislature, 1999, effective September 1,
1999, which requires the comptroller to adopt rules governing the certification
to the Texas Education Agency of the reduction in a school district's property
value caused by electric utility restructuring.
James LeBas, Chief Revenue Estimator, has determined that for the first
five-year period the rule will be in effect, there will be no significant
revenue impact on the state or local government.
Mr. LeBas also has determined that for each year of the first five years
the new rule is in effect, it would benefit the public by providing a more
efficient means of obtaining information concerning taxable property values.
There is no anticipated significant cost to the public. The new rule will
have no fiscal impact on small business. There is no significant anticipated
economic cost to individuals who are required to comply with the proposed
rule.
Comments on the proposal may be submitted to Buddy Breivogel, Manager,
Property Tax Division, P.O. Box 13528, Austin, Texas 78711-3528.
This new section is proposed under Utilities Code, Chapter 39,
Subchapter Z, §39.901(g), which requires the comptroller to adopt rules
governing the March 1 certification to the Texas Education Agency of the reduction
in a school district's property value caused by electric utility restructuring.
The new section implements Utilities Code, Chapter 39, Subchapter Z, §39.901(g).
§9.102.Certification of Property Value Reduction.
The public may provide information or input to the comptroller concerning
the certification to the Texas Education Agency of each school district's
property value reduction caused by electric utility restructuring at any time
by writing the Manager, Property Tax Division or the manager's designee at
Comptroller of Public Accounts, Property Tax Division, Post Office Box 13528
Austin, Texas 78711-3528 or by calling 1-800-252-9121.
This agency hereby certifies that the proposal has been reviewed
by legal counsel and found to be within the agency's legal authority to adopt.
Filed with the Office of
the Secretary of State, on July 17, 2000.
TRD-200004913
Martin Cherry
Deputy General Counsel for Tax Policy and Agency Affairs
Comptroller of Public Accounts
Earliest possible date of adoption: August 27, 2000
For further information, please call: (512) 463-3699