Bill Text: TX HB1735 | 2013-2014 | 83rd Legislature | Comm Sub
Bill Title: Relating to the exclusion of certain taxable entities from a combined group for purposes of the franchise tax.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2013-05-09 - Placed on General State Calendar [HB1735 Detail]
Download: Texas-2013-HB1735-Comm_Sub.html
| 83R19499 BEF-F | |||
| By: Hilderbran | H.B. No. 1735 | ||
| Substitute the following for H.B. No. 1735: | |||
| By: Hilderbran | C.S.H.B. No. 1735 | ||
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| relating to the exclusion of certain taxable entities from a | ||
| combined group for purposes of the franchise tax. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 171.1014, Tax Code, is amended by adding | ||
| Subsection (j) to read as follows: | ||
| (j) Notwithstanding any other provision of this section, a | ||
| taxable entity that provides retail or wholesale electric utilities | ||
| may not be included as a member of a combined group that includes | ||
| one or more taxable entities that do not provide retail or wholesale | ||
| electric utilities if that combined group in the absence of this | ||
| subsection: | ||
| (1) would not meet the requirements of Section | ||
| 171.002(c) solely because one or more members of the combined group | ||
| provide retail or wholesale electric utilities; and | ||
| (2) would have less than five percent of the combined | ||
| group's total revenue derived from providing retail or wholesale | ||
| electric utilities. | ||
| SECTION 2. It is the intent of the legislature that certain | ||
| taxable entities that are part of an affiliated group and that | ||
| provide retail or wholesale electric utilities be disqualified as | ||
| members of certain combined groups for purposes of the franchise | ||
| tax. | ||
| SECTION 3. This Act applies only to a report originally due | ||
| on or after January 1, 2014. | ||
| SECTION 4. This Act takes effect September 1, 2013. | ||
