Bill Text: TX SB356 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Relating to a franchise tax credit for a taxable entity that participates in the federal electronic verification of employment authorization program.
Sponsorship: Partisan Bill (Republican 2)
Status: (Introduced - Dead) 2023-03-29 - Co-author authorized [SB356 Detail]
Download: Texas-2023-SB356-Introduced.html
| 88R2828 CJC-D | ||
| By: Hall | S.B. No. 356 | |
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| relating to a franchise tax credit for a taxable entity that | ||
| participates in the federal electronic verification of employment | ||
| authorization program. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Chapter 171, Tax Code, is amended by adding | ||
| Subchapter K to read as follows: | ||
| SUBCHAPTER K. TAX CREDIT FOR PARTICIPATION IN FEDERAL ELECTRONIC | ||
| VERIFICATION OF EMPLOYMENT AUTHORIZATION PROGRAM | ||
| Sec. 171.551. DEFINITION. In this subchapter, "E-verify | ||
| program" has the meaning assigned by Section 673.001, Government | ||
| Code. | ||
| Sec. 171.552. ENTITLEMENT TO CREDIT. A taxable entity is | ||
| entitled to a credit in the amount and under the conditions provided | ||
| by this subchapter against the tax imposed under this chapter. | ||
| Sec. 171.553. QUALIFICATION. A taxable entity qualifies | ||
| for a credit under this subchapter if the taxable entity registers | ||
| with and participates in the E-verify program to verify employee | ||
| information for a period of at least 12 consecutive months. | ||
| Sec. 171.554. AMOUNT OF CREDIT; LIMITATION. (a) The amount | ||
| of the credit for a report is equal to the amount of franchise tax | ||
| due for the report after applying all other applicable credits. | ||
| (b) A taxable entity may not claim more than one credit | ||
| under this subchapter. | ||
| Sec. 171.555. APPLICATION FOR CREDIT. (a) A taxable entity | ||
| must apply for a credit under this subchapter on or with the report | ||
| for the period for which the credit is claimed. | ||
| (b) The comptroller shall promulgate a form for the | ||
| application for the credit. A taxable entity must use the form in | ||
| applying for the credit. | ||
| (c) The comptroller may require a taxable entity to submit | ||
| with an application any information the comptroller determines is | ||
| necessary to determine whether the taxable entity qualifies for the | ||
| credit under Section 171.553. | ||
| Sec. 171.556. RULES. The comptroller shall adopt rules | ||
| necessary to implement and administer this subchapter. | ||
| SECTION 2. Subchapter K, Chapter 171, Tax Code, as added by | ||
| this Act, applies only to a report originally due on or after | ||
| January 1, 2024. | ||
| SECTION 3. 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, 2023. | ||
