Jackson Walker partner Brandon Janes was quoted in The Austin-American Statesman on February 24, 2015, about a new bill directing auto sales tax to the Texas Department of Transportation (TxDOT).
The article, titled “Nichols tweaks bill directing auto sales tax to TxDOT,” discusses a bill sponsored by state Senator Robert Nichols, chairman of the Senate Transportation Committee, regarding auto sales tax revenue. The bill as proposed would divert the first $2.5 billion of receipts on auto sales to the general fund, and TxDOT would receive the next $2.5 billion from that tax. Any revenue beyond the combined $5 billion would be split evenly between the two.
The legislation would take effect during the 2017-18 fiscal year but must first make its way through the Senate and House, as well as a constitutional amendment vote this fall. While the bill is expected to sail through the Senate, the House leaders have been noncommittal publicly.
“The House is a more difficult equation to solve” on the legislation, said Mr. Janes, who is the chairman of Transportation Advocates of Texas.
Mr. Janes has extensive experience in corporate governance, capital transactions and mergers and acquisitions. He has been involved in a number of international and domestic financings. He has represented investors and corporate clients in private equity and debt offerings, including the offerings of high yield debt securities and convertible and other hybrid securities. Much of Mr. Janes’ practice includes cross-border and international transactions. His practice includes a wide variety of industries, including technology, media, energy and retail. Mr. Janes is also a Certified Public Accountant.