Senate (Finally) Passes TIF Tax Repeal - Texas Scorecard

The Senate this evening finally passed House Bill 735, legislation that represents one of the largest tax cuts in Texas history. The House version had the tax cut going into effect immediately, but the Senate opted to keep taking the tax for one more year. This is a tax, by the way, which was supposed to have gone away years ago; it had completed its statutory purpose but lawmakers decided they liked getting the money and refused to follow through on the promise to abolish it. So while the House voted unanimously to finally stop taking the tax now, the Senate is going to grab another year out of you. Hopefully, in conference committee, the House version will emerge. With just days left in the legislative session, our legislators seems to be (finally) taking a positive step toward reining in government spending and letting taxpayers keep their hard-earned money.