Bonds and a pen


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The Texas Tax Reform Commission (TTRC) is a bipartisan group of 24 Texans who will develop proposals to modernize the state tax system and provide long-term property tax relief as well as sound financing for public schools. Perry announced in September that he was creating the advisory commission and named John Sharp, a Democrat and former Texas comptroller from 1991 to 1999, to head the group.

The commission is a diverse group of private sector leaders who represent all segments of the Texas economy. They will hold public hearing across the state in order to give all Texans the opportunity to share their views. When the Commission completes its work, they will present their recommendations to state leaders and lawmakers.

"The commission members will provide a broad, fresh perspective on the challenges ahead as we look to modernize our tax structure, reduce property taxes, and provide a long-term, stable source of revenue for our schools," Perry said. "I look forward to working with this talented group of individuals to design a plan that will make our tax system fairer, encourage continued economic growth and win support in both chambers of the Texas legislature," Sharp said.

The work of the Commission is particularly critical in light of the recent Texas Supreme Court ruling that directs the Texas Legislature to reform the state's tax system for funding public schools by June 1, 2006.

Perry outlined five key principles to guide the commission's deliberations on tax reforms. Perry said a new tax structure must be fair, broad-based, modern, understandable to taxpayers and competitive with other states "so that Texas can continue to attract jobs by maintaining our reputation for having the best business climate in America."