| 1 | 1 | | 82R24669 JE-D |
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| 2 | 2 | | By: Hilderbran H.B. No. 262 |
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| 3 | 3 | | Substitute the following for H.B. No. 262: |
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| 4 | 4 | | By: Hilderbran C.S.H.B. No. 262 |
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| 5 | 5 | | |
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| 6 | 6 | | |
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| 7 | 7 | | A BILL TO BE ENTITLED |
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| 8 | 8 | | AN ACT |
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| 9 | 9 | | relating to the extension of the $1 million total revenue exemption |
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| 10 | 10 | | for the franchise tax. |
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| 11 | 11 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 12 | 12 | | SECTION 1. Section 1(c), Chapter 286 (H.B. 4765), Acts of |
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| 13 | 13 | | the 81st Legislature, Regular Session, 2009, is amended to read as |
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| 14 | 14 | | follows: |
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| 15 | 15 | | (c) This [If this section takes effect, this] section |
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| 16 | 16 | | expires December 31, 2013 [2011]. |
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| 17 | 17 | | SECTION 2. Section 2(b), Chapter 286 (H.B. 4765), Acts of |
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| 18 | 18 | | the 81st Legislature, Regular Session, 2009, is amended to read as |
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| 19 | 19 | | follows: |
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| 20 | 20 | | (b) This section takes effect January 1, 2014 [2012, if H.B. |
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| 21 | 21 | | No. 2154, Acts of the 81st Legislature, Regular Session, 2009, |
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| 22 | 22 | | amends Section 155.0211, Tax Code, in a manner that results in an |
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| 23 | 23 | | increase in the revenue from the tax under that section during the |
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| 24 | 24 | | state fiscal biennium beginning September 1, 2009, that is |
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| 25 | 25 | | attributable to that change, and that Act is enacted and becomes |
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| 26 | 26 | | law. If H.B. No. 2154, Acts of the 81st Legislature, Regular |
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| 27 | 27 | | Session, 2009, does not amend Section 155.0211, Tax Code, in that |
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| 28 | 28 | | manner or is not enacted or does not become law, this section takes |
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| 29 | 29 | | effect January 1, 2010]. |
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| 30 | 30 | | SECTION 3. Section 3(b), Chapter 286 (H.B. 4765), Acts of |
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| 31 | 31 | | the 81st Legislature, Regular Session, 2009, is amended to read as |
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| 32 | 32 | | follows: |
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| 33 | 33 | | (b) This section takes effect January 1, 2014 [2012, if H.B. |
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| 34 | 34 | | No. 2154, Acts of the 81st Legislature, Regular Session, 2009, |
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| 35 | 35 | | amends Section 155.0211, Tax Code, in a manner that results in an |
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| 36 | 36 | | increase in the revenue from the tax under that section during the |
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| 37 | 37 | | state fiscal biennium beginning September 1, 2009, that is |
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| 38 | 38 | | attributable to that change, and that Act is enacted and becomes |
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| 39 | 39 | | law. If H.B. No. 2154, Acts of the 81st Legislature, Regular |
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| 40 | 40 | | Session, 2009, does not amend Section 155.0211, Tax Code, in that |
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| 41 | 41 | | manner or is not enacted or does not become law, this section takes |
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| 42 | 42 | | effect January 1, 2010]. |
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| 43 | 43 | | SECTION 4. This Act takes effect only if H.B. No. 3790, Acts |
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| 44 | 44 | | of the 82nd Legislature, Regular Session, 2011, results in an |
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| 45 | 45 | | increase in the revenue collected from state taxes imposed during |
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| 46 | 46 | | the state fiscal biennium beginning September 1, 2011, that is |
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| 47 | 47 | | attributable to the changes provided by that Act, and that Act is |
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| 48 | 48 | | enacted and becomes law. If H.B. No. 3790, Acts of the 82nd |
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| 49 | 49 | | Legislature, Regular Session, 2011, does not result in an increase |
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| 50 | 50 | | in the revenue collected from state taxes imposed or is not enacted |
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| 51 | 51 | | or does not become law, this Act has no effect. |
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| 52 | 52 | | SECTION 5. This Act takes effect immediately if it receives |
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| 53 | 53 | | a vote of two-thirds of all the members elected to each house, as |
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| 54 | 54 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 55 | 55 | | Act does not receive the vote necessary for immediate effect, this |
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| 56 | 56 | | Act takes effect September 1, 2011. |
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