| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 2009S0605-1 03/06/09 | |
| 2 | 2 | By: Oliveira H.B. No. 3897 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the tax rate for certain retail electric providers. | |
| 8 | 8 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 9 | 9 | SECTION 1. Subchapter A, Chapter 171, Tax Code, is amended | |
| 10 | 10 | by adding Section 171.0022 to read as follows: | |
| 11 | 11 | Sec. 171.0022. TAX RATE FOR CERTAIN RETAIL ELECTRIC | |
| 12 | 12 | PROVIDERS. If a taxable entity obtains more than 90 percent of its | |
| 13 | 13 | annual total revenue from its activities in retail or wholesale | |
| 14 | 14 | trade, and the taxable entity owns a retail electric provider as | |
| 15 | 15 | defined by Section 31.002, Utilities Code: | |
| 16 | 16 | (1) the total revenue generated from its activities in | |
| 17 | 17 | retail or wholesale trade is subject to the tax rate found in | |
| 18 | 18 | Section 171.002(b) if the taxable entity meets the requirements | |
| 19 | 19 | under Section 171.002(c)(1) and (2); | |
| 20 | 20 | (2) Section 171.002(c)(3) does not apply; and | |
| 21 | 21 | (3) the total revenue generated from the retail | |
| 22 | 22 | electric provider as defined by Section 31.002, Utilities Code, is | |
| 23 | 23 | subject to the tax rate found in Section 171.002(a). | |
| 24 | 24 | SECTION 2. This Act takes effect January 1, 2010. |