The state's professional sports teams are working to exempt their broadcast revenues from a new business tax being considered by the House.
The comptroller's office estimates that the state could raise 20 (M) million dollars a year by taxing the broadcast revenues. It's part of a proposed restructuring of the state business tax supported by Governor Rick Perry.
But the Dallas Morning News reports that the teams view the broadcasting money as out-of-state revenue. They argue that the
money is generated from agreements with TV networks in New York
and from viewers nationwide.
The House Ways and Means Committee approved a business tax bill
yesterday, without the exemption for broadcast revenue.
Lobbyists for the sports teams are working to add their exemption to the bill.
The proposed new business tax would replace the state's franchise tax and would go toward lowering property taxes.