FOR IMMEDIATE RELEASE
March 26, 2019
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GUILLEN PUSHES FOR BOAT TAX CAP TO BOOST ECONOMIC ACTIVITY
AUSTIN - State Rep. Ryan Guillen (D-Rural South Texas) filed a bill last week that places a cap on the tax imposed on the sale of boats in order to stimulate economic activity for the marine industry in Texas.
"Texas still maintains a high boat tax rate, while Florida and a dozen other states have put caps on boat sales taxes," said Guillen. “That means Texas is losing valuable economic activity and tax revenues, especially in the coastal areas recently affected by natural disasters.”
In 2010, Florida imposed a boat sales tax, leading to a boom in the marine industry. Soon, 12 other states have followed suit, seeing a similar increase in marine economic activity. Texas has yet to act on the matter, leading to a loss of such economic activity and tax revenues to neighboring states with sales tax caps.
Guillen’s bill, HB 4032, places a similar kind of sales tax cap on boat sales and exempts various vessels that partake in specific economic activities within the state, such as repairs.
"The Texas economy is the second largest in the nation, but we are falling behind in the marine industry," added Guillen. “This bill is a step in the right direction.”
Serving ten rural South Texas counties in the Texas House of Representatives, Ryan Guillen is known for his hard work, fierce independence, and relentless efforts for South Texas families. Recently, Capitol Inside called him a “House Bill Machine,” and a “one-person assembly line for legislation.” Since elected, few other legislators have passed more bills than Guillen. Sign up for updates at ryanguillen.com, facebook.com/representative.guillen, and twitter.com/ryanguillen