Senator Robert Duncan says the committee substitute to SB 1811 will generate just over $4 billion in savings with 20 articles/items, many of which are already suggested in other bills being considered by the legislature this session. Duncan noted the bill includes the following items and the amounts saved:
Article 1 – Foundation School Program (FSP) August payment delay – saving $1.8 billion
Article 2 – Sale of underused property – $35 million
Article 3 – Raises Custom Broker Fee – $1 million
Article 4 – Repeal Economic Development Fund – $10 million
Article 5 – Eliminate Hotel Permanent Resident Exemption – $10 million
Article 6 – Speed Up Escheat Transfer – $200 million
Article 6 – Unclaimed Property Dormancy Period – $78 million
Article 6 – Unclaimed Securities Liquidation – $38 million
Article 7 – Reclassify Court of Criminal Appeals Training Fund – $5.3 million
Article 8 – Process Server Certification Fees – $1.5 million
Article 9 – Petroleum Delivery Fee Continuation – $59.2 million
Article 10 – Motor Fuels Speed-up – $80 million
Article 10 – Delay Motor Fuels Tax Transfer to Fund 006 & 002 – $193 million
Article 11 – Alcohol Tax Speed-up – $12.5 million
Article 12 – Reduce Cigarette Tax Stamping Allowance – $47 million
Article 13 – Small Cigars Fee – $25.1 million
Article 14 – Sales for Resale Fix – $200 million
Article 15 – Eliminate CPA Audit Responsibilities at OCA – $9 million
Article 16 – Franchise Tax Speed-up – $880 million
Article 17 – Sales Tax Speed-up – $200 million
Article 18 – Alcoholic Beverage Reporting – $25.8 million
Article 19 – Tobacco Earnings for CPRIT Debt Service – $100 million
Article 20 – ERS GBP Agency Enrollment Fee – $165 million
With the $4.2 billion in savings above and another $593 million from unspecified measures that, according to Duncan, would not require any changes in law; the grand total of additional revenue is $4.8 billion.