P.O. Box 12068, State Capitol
Austin, Texas 78711
Tel. (512) 463-0112
FOR IMMEDIATE RELEASE
February 28, 2017
Senator Nelson's SB 17 and SB 532
AUSTIN – The Senate Finance Committee today approved two bills authored by Texas State Senator Jane Nelson, R-Flower Mound - SB 17 providing franchise tax relief and SB 532 addressing cybersecurity.
SB 17 reduces the franchise tax every biennium if the Comptroller certifies that the state will experience at least 5-percent revenue growth. It dedicates half of general revenue-related funds over the 5-percent growth to reducing the franchise tax rate. "Under this bill, as the economy grows so does tax relief. This bill keeps Texas on the path to responsibly eliminating the franchise tax while ensuring we can meet our needs," Senator Nelson said.
SB 532 directs the Department of Information Resources to perform a risk assessment of each state agency's Information Technology (IT) programs -- and to help guide agencies deemed high risk to address issues identified in the assessment. It also requires agencies to consider both the state Data Center Services and cloud computing services when making major IT purchases. "Cloud computing has the potential to reduce agency's IT costs and operational overhead," Senator Nelson said. "Our state agencies store a great deal of sensitive information. It is vitally important that we secure our information technology systems."
The bills now move to the full Senate for further consideration.