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Senate committee advances constitutional amendment barring new taxes on securities transfers
Summary
The Committee on Finance reported favorably HJR4, a proposed constitutional amendment that would prohibit the Legislature from imposing new taxes on the transfer of securities or the processing of financial transactions; sponsors said the change would protect investors and encourage financial-industry investment in Texas.
The Senate Committee on Finance voted to report favorably HJR4, a resolution proposing a constitutional amendment to prohibit the legislature from imposing new taxes on transfers of securities or processing of financial transactions.
Senator Brandon Parker, sponsor, told the committee the measure is intended to protect retirees and other investors from…
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