2306 Ch 13 Financing State Government

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Across
  1. 2. the largest state expenditure but money for this is raised locally
  2. 7. expenditure primarily paid for through federal funds
  3. 8. Texas taxes these products at a higher rate than the Federal government
  4. 11. the second step of the budget process where appropriations bills are submitted by LBB to the House and Senate, revised by committees, and passed on the floor
  5. 15. a tax that is calculated in four different ways by businesses in Texas; businesses pay the lowest calculation to the state
  6. 16. governors have this power in Texas but rarely use it
  7. 17. a tax on this product brought in $5.3 billion in revenue
  8. 19. state voters approved an amendment in Nov 2019 that prohibits this kind of tax
  9. 21. the Texas Constitution states that the budget cannot take effect until this person certifies that the state has enough money for this budget
  10. 23. the use of government revenue collection and expenditure to influence the economy
  11. 24. Texas raised $2.9 billion by taxing products containing this
Down
  1. 1. taxes that fund local government calculated by multiplying the appraised value of the property by a tax rate set by the local government
  2. 3. revenue collected on various licenses, fees, fines and penalties
  3. 4. largest single source of revenue (1/3) for Texas and primarily used for health care
  4. 5. tax on oil and natural gas production
  5. 6. a type of committee made up of members of the House and Senate where they work out differences in the budget bills
  6. 9. tax on this product is 4.6% of market value
  7. 10. a type of good exempt from sales tax
  8. 12. largest source of tax revenue (6.25%)
  9. 13. the first step of the budget process shared by the Governor's Office of Budget, Planning and Policy and the Legislative Budget Board where budget requests are received and appropriations bills are written
  10. 14. requirement in the Texas Constitution to not spend more money than the state takes in
  11. 18. name of the sales tax on a specific product or service
  12. 20. tax on this product is 7.5% of market value
  13. 22. the state budget covers this many years