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A BILL TO BE ENTITLED
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AN ACT
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relating to the extension of the $1 million total revenue exemption |
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for the franchise tax. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1(c), Chapter 286 (H.B. 4765), Acts of |
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the 81st Legislature, Regular Session, 2009, is amended to read as |
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follows: |
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(c) This [If this section takes effect, this] section |
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expires December 31, 2013 [2011]. |
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SECTION 2. Section 2(b), Chapter 286 (H.B. 4765), Acts of |
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the 81st Legislature, Regular Session, 2009, is amended to read as |
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follows: |
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(b) This section takes effect January 1, 2014 [2012, if H.B.
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No. 2154, Acts of the 81st Legislature, Regular Session, 2009,
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amends Section 155.0211, Tax Code, in a manner that results in an
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increase in the revenue from the tax under that section during the
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state fiscal biennium beginning September 1, 2009, that is
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attributable to that change, and that Act is enacted and becomes
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law. If H.B. No. 2154, Acts of the 81st Legislature, Regular
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Session, 2009, does not amend Section 155.0211, Tax Code, in that
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manner or is not enacted or does not become law, this section takes
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effect January 1, 2010]. |
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SECTION 3. Section 3(b), Chapter 286 (H.B. 4765), Acts of |
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the 81st Legislature, Regular Session, 2009, is amended to read as |
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follows: |
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(b) This section takes effect January 1, 2014 [2012, if H.B.
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No. 2154, Acts of the 81st Legislature, Regular Session, 2009,
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amends Section 155.0211, Tax Code, in a manner that results in an
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increase in the revenue from the tax under that section during the
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state fiscal biennium beginning September 1, 2009, that is
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attributable to that change, and that Act is enacted and becomes
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law. If H.B. No. 2154, Acts of the 81st Legislature, Regular
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Session, 2009, does not amend Section 155.0211, Tax Code, in that
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manner or is not enacted or does not become law, this section takes
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effect January 1, 2010]. |
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SECTION 4. This Act takes effect only if H.B. No. 3790, Acts |
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of the 82nd Legislature, Regular Session, 2011, results in an |
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increase in the revenue collected from state taxes imposed during |
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the state fiscal biennium beginning September 1, 2011, that is |
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attributable to the changes provided by that Act, and that Act is |
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enacted and becomes law. If H.B. No. 3790, Acts of the 82nd |
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Legislature, Regular Session, 2011, does not result in an increase |
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in the revenue collected from state taxes imposed or is not enacted |
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or does not become law, this Act has no effect. |
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SECTION 5. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2011. |