Bill Text: TX HB77 | 2013 | 83rd Legislature 1st Special Session | Introduced
Bill Title: Relating to the $1 million total revenue exemption for the franchise tax; decreasing the rates of the franchise tax.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2013-06-14 - Filed [HB77 Detail]
Download: Texas-2013-HB77-Introduced.html
83S10379 ADM-D | ||
By: Harper-Brown | H.B. No. 77 |
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relating to the $1 million total revenue exemption for the | ||
franchise tax; decreasing the rates of the franchise tax. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Sections 171.002(a) and (b), Tax Code, are | ||
amended to read as follows: | ||
(a) Subject to Sections 171.003 and 171.1016 and except as | ||
provided by Subsection (b), the rate of the franchise tax is 0.75 | ||
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(b) Subject to Sections 171.003 and 171.1016, the rate of | ||
the franchise tax is 0.25 [ |
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taxable entities primarily engaged in retail or wholesale trade. | ||
SECTION 2. Section 1(c), Chapter 286 (H.B. 4765), Acts of | ||
the 81st Legislature, Regular Session, 2009, as amended by Section | ||
37.01, Chapter 4 (S.B. 1), Acts of the 82nd Legislature, 1st Called | ||
Session, 2011, is repealed. | ||
SECTION 3. Section 2, Chapter 286 (H.B. 4765), Acts of the | ||
81st Legislature, Regular Session, 2009, as amended by Section | ||
37.02, Chapter 4 (S.B. 1), Acts of the 82nd Legislature, 1st Called | ||
Session, 2011, and which amended former Subsection (d), Section | ||
171.002, Tax Code, is repealed. | ||
SECTION 4. Section 3, Chapter 286 (H.B. 4765), Acts of the | ||
81st Legislature, Regular Session, 2009, as amended by Section | ||
37.03, Chapter 4 (S.B. 1), Acts of the 82nd Legislature, 1st Called | ||
Session, 2011, and which amended former Subsection (a), Section | ||
171.0021, Tax Code, is repealed. | ||
SECTION 5. Section 171.006(b), Tax Code, is amended to read | ||
as follows: | ||
(b) Beginning in 2010, on January 1 of each even-numbered | ||
year, the amounts prescribed by Sections 171.002(d)(2)[ |
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equal to the amount prescribed by those sections on December 31 of | ||
the preceding year multiplied by the percentage increase or | ||
decrease during the preceding state fiscal biennium in the consumer | ||
price index and rounded to the nearest $10,000. | ||
SECTION 6. Sections 171.0021 and 171.1016(d), Tax Code, are | ||
repealed. | ||
SECTION 7. If H.B. No. 500, Acts of the 83rd Legislature, | ||
Regular Session, 2013, becomes law: | ||
(1) Sections 2, 3, 4, 5, and 6 of this Act have no | ||
effect; and | ||
(2) Sections 171.0022 and 171.0023, Tax Code, as added | ||
by that Act, have no effect. | ||
SECTION 8. This Act applies only to a report originally due | ||
on or after January 1, 2014. | ||
SECTION 9. This Act takes effect January 1, 2014. |