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Report states Midland benefits from lawsuit reform |
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Written by Administrator
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Thursday, 01 May 2008 |
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By Courtney Bacalso
Midland Reporter-Telegram
Since 1995, the state of Texas has been at the forefront of lawsuit reform aimed at preventing abusive tort cases. And its successes have benefited Midland by the creation of 1,624 jobs and $340 million in annual spending, according to a report released Wednesday.
Waco-based company The Perryman Group states in its report the legislative changes to tort cases resulted in about 8.5 percent of the economic growth of Texas.
"For a decade, the integrity of hundreds were threatened by the culture of corruption and meritless lawsuits perpetrated by injury lawsuit attorneys," said the group's president and founder Ray Perryman, a nationally recognized economic and financial analyst. "This discouraged people from making investments and it led to so many harms in so many places."
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Flores: Craddick has been great for the Valley |
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Written by Administrator
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Thursday, 01 May 2008 |
by Joey Gomez
Rio Grande Guardian
McALLEN, April 30 - Texas House Speaker Tom Craddick has made history by visiting the Rio Grande Valley and taking the initiative so the region can succeed, said state Rep. Kino Flores, D-Palmview, on the campus of South Texas College on Wednesday.
Flores used a special appreciation event for Craddick by STC, and spoke with trademark frankness on the role the Speaker has played in putting Valley priorities "at the forefront" of Texas policy. STC falls within Flores' District 36.
"I have three pages to read but I'm not going to do that," Flores said, addressing the crowd of STC school officials, state Reps. Veronica Gonzales, D-McAllen, Aaron Peña, D-Edinburg, and business leaders.
"I'm going to tell you that this man has made history," Flores said. "When was the last time you had a Speaker of the House in McAllen, Texas? When was the last time you had a Speaker, a Republican, in an 80 percent population that votes Democrat who has taken the initiative so that we can succeed?"
"He (Craddick) has the courage to stand with us, ladies and gentlemen. I have stood with him, and I will continue to stand with him because he has made history because he put our priorities, our children, at the forefront."
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Last Updated ( Thursday, 01 May 2008 )
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Craddick Announces the Select Committee on Property Tax Relief and Appraisal Reform |
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Written by Administrator
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Thursday, 24 April 2008 |
(Austin) - Speaker Tom Craddick (R - Midland), today, announced the formation of the Select Committee on Property Tax Relief and Appraisal Reform, which will oversee all matters relating to property tax relief and reforming the property appraisal system. Rep. John Otto (R - Dayton) will chair the committee and Rep. Ken Paxton (R - McKinney) will serve as vice chair. "The House is committed to doing everything it can to provide meaningful and responsible property tax relief to those who are strained by the burden of soaring taxes," Speaker Craddick said. "Under the experienced leadership of Rep. Otto, I have full confidence that the members of this committee will come together and create a workable solution to this issue."
The committee will review the sections of the Texas Constitution and the tax code that limit or authorize limiting the appraised value or increases in the appraised value of property for tax purposes. It may request assistance from any executive branch agency, and it will issue a report to the House of Representatives before the 81st Legislative Session, which may include draft legislation or recommendations for legislation.
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Last Updated ( Thursday, 24 April 2008 )
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Craddick Appoints Chisum and Crownover to the Business Tax Advisory Committee |
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Written by Administrator
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Friday, 04 April 2008 |
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(AUSTIN) - Speaker Tom Craddick (R - Midland), today, announced the appointment of Reps. Warren Chisum (R - Pampa) and Myra Crownover (R - Denton) to the Business Tax Advisory Committee, which will conduct a biennial study of the effects of the revised franchise tax on Texas businesses.
"As a leader in the implementation of the franchise tax, Rep. Chisum will provide expertise on the many issues that will come before this committee," Speaker Craddick said. "Rep. Crownover's experience as a small business owner will be an invaluable contribution to this committee as it studies the impact of this tax on Texas businesses."
In 2006, the Texas legislature restructured the state's franchise tax to ensure that each business pays its fair share of education costs. The tax was expanded to include newly taxed entities, thus changing how the tax is to be calculated. Under the new franchise tax, generally all partnerships (except general partnerships of natural persons), associations, business trusts, limited liability companies and corporations must pay a tax. This is now the primary source of funds used to buy down property tax rates. An additional $3 billion will be generated annually from businesses.
In 2007, the Business Tax Advisory Committee was established in the business tax technical corrections bill (HB3928). The purpose of the committee is to study the effects of the new business tax and issue a report to the legislature and the governor at the beginning of each regular session. The committee expires on January 31, 2013.
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Last Updated ( Wednesday, 09 April 2008 )
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