Bill Text: TX HB4002 | 2017-2018 | 85th Legislature | Enrolled
Bill Title: Relating to the definition of production used in determining the cost of goods sold for franchise tax purposes.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2017-06-01 - Effective on 9/1/17 [HB4002 Detail]
Download: Texas-2017-HB4002-Enrolled.html
H.B. No. 4002 |
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relating to the definition of production used in determining the | ||
cost of goods sold for franchise tax purposes. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 171.1012(a)(2), Tax Code, is amended to | ||
read as follows: | ||
(2) "Production" means [ |
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[ |
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improvement, creation, raising, or growth. | ||
SECTION 2. The amendment made by this Act to Section | ||
171.1012, Tax Code, is a clarification of existing law and does not | ||
imply that Section 171.1012, Tax Code, before the amendment made by | ||
this Act may be construed as inconsistent with Section 171.1012, | ||
Tax Code, as amended by this Act. | ||
SECTION 3. This Act takes effect September 1, 2017. | ||
______________________________ | ______________________________ | |
President of the Senate | Speaker of the House | |
I certify that H.B. No. 4002 was passed by the House on May 4, | ||
2017, by the following vote: Yeas 143, Nays 0, 2 present, not | ||
voting. | ||
______________________________ | ||
Chief Clerk of the House | ||
I certify that H.B. No. 4002 was passed by the Senate on May | ||
19, 2017, by the following vote: Yeas 31, Nays 0. | ||
______________________________ | ||
Secretary of the Senate | ||
APPROVED: _____________________ | ||
Date | ||
_____________________ | ||
Governor |