By: Geren (Senate Sponsor - Harris) H.B. No. 2383
(In the Senate - Received from the House May 16, 2011;
May 16, 2011, read first time and referred to Committee on Finance;
May 19, 2011, reported favorably by the following vote: Yeas 10,
Nays 0; May 19, 2011, sent to printer.)
A BILL TO BE ENTITLED
AN ACT
relating to a study regarding the reenactment of the franchise tax
credit or providing other incentives for certain research and
development activities.
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 INCENTIVES FOR RESEARCH AND
DEVELOPMENT ACTIVITIES. (a) The Legislative Budget Board shall
conduct a study of:
(1) the costs and benefits to the state of reenacting
the tax credit for research and development activities in effect
under Subchapter O before the repeal of that subchapter by Chapter 1
(H.B. 3), Acts of the 79th Legislature, 3rd Called Session, 2006;
and
(2) 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 using 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 September 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.
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