Bohac’s Tax Relief Bills to Help Texas Families and Businesses
AUSTIN, TEXAS- The recently concluded 81st Session of the Texas Legislature saw several significant tax reform measures that will help families and small businesses across the state. Representative Dwayne Bohac (R-Houston) authored and supported several key pieces of legislation that focus on lowering taxes and promoting economic growth during these uncertain economic times.
Lowering taxes on Texas families is a top priority for Rep. Bohac who bases his legislative agenda on input and feedback from constituents. “The people of Houston and Texas deserve to keep more of the money that they have worked so hard to earn,” said Bohac.
One of Bohac’s tax cutting measures was House Bill 1801 which expands the State’s Annual Sales Tax Holiday on clothing to include school supplies. This legislation will save money for families as they prepare their children for the school year. The Texas Comptroller estimates that HB 1801 will save families $9.5 million each year.
Reducing taxes on small business owners was a top priority for Bohac this session as well. House Bill 4765, co-authored by Bohac, increases the exemption from the margins tax for small business across the state. This bill increases the exemption from $300,000 to $1 million. This will remove approximately 40,000 small businesses from state’s business tax; 7,000 are right here in Houston. The effect will be that more small businesses will be able to spend more money to create jobs and help grow the economy.
Bohac also co-authored House Bill 3613, which creates a tax exemption for 100% disabled veterans. Additionally, other disabled veterans will receive exemptions based on their disability rating. This will save our veterans roughly $5.7 million a year. “This bill helps our veterans who have sacrificed so bravely for our country. It’s a small measure of our gratitude,” said Rep. Bohac.
Many times the cost of appealing a property value determination through the court system cannot justify the amount of money that an individual would receive from a successful appeal. House Bill 3612 supported by Bohac makes appealing appraisal values more affordable for taxpayers. This bill authorizes a property owner to appeal an Appraisal Review Board decision to the State Office of Administrative Hearings, rather than having to go through the court system–the result of which is more efficient and cost effective appeals, saving the taxpayer potentially thousands of dollars.
Rep. Bohac also supported passage of a fiscally conservative budget that prioritized key services, preserved the State’s Rainy Day Fund, and provided $1.9 billion in additional funding for education.
“Collectively, these bills demonstrate prudent fiscal policy, lower taxes and provide real relief for Texans,” said Bohac.