P.O. Box 12068, State Capitol
Austin, Texas 78711
Tel. (512) 463-0112
FOR IMMEDIATE RELEASE
October 24, 2017
AUSTIN – The Senate Finance Committee has received its interim assignments – a list of issues to be analyzed over the months ahead with recommendations issued in a report to the next Legislature.
“The lieutenant governor has provided us with a well-rounded set of issues that warrant our attention in preparation for next session. These interim charges will shine a light on major budget challenges, along with the impact our policies have on Texas taxpayers,” said the committee chair, Texas State Senator Jane Nelson, R-Flower Mound.
This summer the Finance Committee was assigned to monitor all costs associated with Hurricane Harvey and study the storm’s impact on the state economy. Yesterday the committee received its remaining assignments, including:
- Alamo Restoration: Monitor the expenditure of state funds appropriated to the General Land Office to ensure funds are spent emphasizing architectural design and the historical impact of the Alamo site.
- Economic Stabilization Fund: Examine options to increase investment earnings of the Economic Stabilization Fund in a manner that minimizes overall risk to the fund balance.
- Texas Emissions Reduction Plan (TERP): Examine whether the state's investment in TERP is being effectively utilized to comply with federal air quality standards, reduce pollution, and protect the public health of Texans.
- Request to Exceed Review: Review all riders requiring interim action by the Legislative Budget Board.
- Fee Structure Review: Review state General Revenue - Dedicated fees and make recommendations to reduce fees and lessen reliance on General Revenue - Dedicated fee balances to certify the budget.
- Adult and Juvenile Corrections Funding: Examine and make recommendations on the funding patterns used to fund the juvenile justice system and adult probation departments.
- Trauma Funding: Evaluate current revenue systems that fund the state’s trauma system, and evaluate factors contributing to the decline in Consolidated Court Cost revenue.
- Property Tax on Business Personal Property: Evaluate the property tax as it applies to business personal property and the current $5,000 exemption.
- Interest Rate Disparity: Evaluate the rate of interest charged on delinquent property taxes and delinquent state taxes, compared to the rate of interest paid on property tax refunds and state tax refunds.
- Monitoring/ Implementation: Monitor the implementation of CPS critical needs, state health care costs, behavioral health, border security and sporting goods sales tax.