Today Senate Finance voted several bills favorably from committee:
SB 1 and SJR 1 (Nelson) – Relating to certain restrictions on the imposition of ad valorem taxes and to the duty of the state to reimburse certain political subdivisions for certain revenue loss.
- SB 1 as substitute passed with 13 ayes and 2 nays
- SJR 1 as substituted passed with 11 ayes and 4 nays
SB 7 (Nelson) – Relating to decreasing the rates of the franchise tax. SB 7 as substituted was voted favorably out of committee with 13 ayes and 2 nays.
SB 8 (Schwertner) – Relating to the total revenue exemption for the franchise tax. The bill would exempt all businesses with $4 million or less in total annual revenue from the franchise tax and was voted out of committee with 13 ayes and 2 nays.
SB 31 (Zaffirini) – Relating to the authority of certain volunteer firefighter and emergency services organizations to hold tax-free sales or auctions -15 ayes and 0 nays.
SB 140 (Perry) – Relating to a sales and use tax exemption for telecommunications services used for the navigation of certain farm and ranch machinery and equipment -15 ayes and 0 nays.
SB 752 (Bettencourt) – Relating to the repeal of the inheritance tax and the tax on combative sports events – 15 ayes and 0 nays.
SB 757 (Perry) – Relating to the repeal of the production taxes on crude petroleum and Sulphur – 12 ayes and 2 nays.
SB 759 (Kolkhorst) – Relating to the repeal of certain state taxes – 14 ayes and 0 nays.
SB 761 (Creighton) – Relating to the taxation of fireworks – 14 ayes and 0 nays.
These bills will now move before the full Senate.