81R2969 CBH-D
By: Anderson H.J.R. No. 30
A JOINT RESOLUTION
proposing a constitutional amendment requiring any increase in a
rate of the franchise tax be approved by two-thirds of all the
members elected to each house of the legislature.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Article VIII, Texas Constitution, is amended by
adding Section 25 to read as follows:
Sec. 25. (a) A bill increasing a rate of the franchise tax
per year of privilege period of taxable margin above the
corresponding rate provided by Chapter 1 (H.B. 3), Acts of the 79th
Legislature, 3rd Called Session, 2006, may take effect only if
passed by a record vote of two-thirds of all the members elected to
each house of the legislature on final consideration in each house.
(b) This section applies to an increase in a rate of the
franchise tax as it applies to any taxable entity, including a
taxable entity primarily engaged in retail or wholesale trade.
(c) This section does not apply to a bill that decreases a
rate of the franchise tax. If a rate of the franchise tax is
decreased, this section applies to any subsequent increase in that
rate.
(d) This section does not apply to a bill that amends:
(1) the manner in which the franchise tax is computed,
including the determination of margin and taxable margin and any
allowable deductions or credits;
(2) the manner in which the franchise tax is
administered or enforced; or
(3) the applicability of the franchise tax to certain
entities.
SECTION 2. This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 3, 2009.
The ballot shall be printed to provide for voting for or against the
proposition: "The constitutional amendment requiring any increase
in a rate of the franchise tax be approved by two-thirds of all the
members elected to each house of the legislature."