Bill Text: TX SB1458 | 2011-2012 | 82nd Legislature | Introduced
Bill Title: Relating to a study regarding the reenactment of the franchise tax credit for research and development expenditures.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2011-03-22 - Referred to Finance [SB1458 Detail]
Download: Texas-2011-SB1458-Introduced.html
By: Harris | S.B. No. 1458 | |
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relating to a study regarding the reenactment of the franchise tax | ||
credit for research and development expenditures. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subchapter E, Chapter 171, Tax Code, is amended | ||
by adding Section 171.215 to read as follows: | ||
Sec. 171.215. STUDY OF AN INCENTIVE FOR RESEARCH AND | ||
DEVELOPMENT ACTIVITIES. (a) The Legislative Budget Board shall | ||
conduct a study of the costs and benefits to the state of reenacting | ||
the tax incentive for research and development activities that was | ||
in effect as Subchapter O, Chapter 171, Tax Code, in 2006. As a part | ||
of the study, the Legislative Budget Board shall examine the types | ||
of research and development incentives available in other states. | ||
(b) The Legislative Budget Board may seek the assistance of | ||
other state agencies in conducting the study, but the study must be | ||
completed utilizing existing resources available to the | ||
Legislative Budget Board and any assisting agencies. | ||
(c) The Legislative Budget Board shall report the results of | ||
the study to the legislature not later than January 1, 2013. | ||
(d) This section expires January 1, 2013. | ||
SECTION 2. 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. |