Texas HB5449 limits state and local appropriations growth and returns excess tax revenue to taxpayers.

Texas HB5449 amends the Government Code to limit the rate of growth in state and local appropriations. The bill sets the rate of growth of the state's economy at zero for the next fiscal biennium and caps appropriations at the current level. It also limits the growth of state funds appropriations to the average taxpayer's ability to pay. The Legislative Budget Board must determine the rates of growth using the most recent data from the U.S. Bureau of Labor Statistics and the U.S. Census Bureau. Any over-collected taxpayer money will be returned by reducing taxes.

Texas HB5449 limits state and local appropriations growth and returns excess tax revenue to taxpayers.

Texas HB5449 amends the Government Code to limit the rate of growth in state and local appropriations. The bill sets the rate of growth of the state's economy at zero for the next fiscal biennium and caps appropriations at the current level. It also limits the growth of state funds appropriations to the average taxpayer's ability to pay. The Legislative Budget Board must determine the rates of growth using the most recent data from the U.S. Bureau of Labor Statistics and the U.S. Census Bureau. Any over-collected taxpayer money will be returned by reducing taxes.