82R404 JE-D
 
  By: Patrick S.B. No. 125
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the retention of the $1 million total revenue exemption
  for the franchise tax.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 1(c), Chapter 286 (H.B. 4765), Acts of
  the 81st Legislature, Regular Session, 2009, is repealed.
         SECTION 2.  Section 2, Chapter 286 (H.B. 4765), Acts of the
  81st Legislature, Regular Session, 2009, which amended former
  Subsection (d), Section 171.002, Tax Code, is repealed.
         SECTION 3.  Section 3, Chapter 286 (H.B. 4765), Acts of the
  81st Legislature, Regular Session, 2009, which amended former
  Subsection (a), Section 171.0021, Tax Code, is repealed.
         SECTION 4.  Section 171.0021, Tax Code, is repealed.
         SECTION 5.  Section 171.1016(d), Tax Code, is repealed.
         SECTION 6.  This Act takes effect immediately if it receives
  a vote of two-thirds of all the members elected to each house, as
  provided by Section 39, Article III, Texas Constitution. If this
  Act does not receive the vote necessary for immediate effect, this
  Act takes effect September 1, 2011.