82R4055 JE-D
By: Murphy H.B. No. 701
A BILL TO BE ENTITLED
AN ACT
relating to the total revenue exemption for the franchise tax.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1(c), Chapter 286 (H.B. 4765), Acts of
the 81st Legislature, Regular Session, 2009, is amended to read as
follows:
(c) This [If this section takes effect, this] section
expires December 31, 2013 [2011].
SECTION 2. Section 2(b), Chapter 286 (H.B. 4765), Acts of
the 81st Legislature, Regular Session, 2009, is amended to read as
follows:
(b) This section takes effect January 1, 2014 [2012, if H.B.
No. 2154, Acts of the 81st Legislature, Regular Session, 2009,
amends Section 155.0211, Tax Code, in a manner that results in an
increase in the revenue from the tax under that section during the
state fiscal biennium beginning September 1, 2009, that is
attributable to that change, and that Act is enacted and becomes
law. If H.B. No. 2154, Acts of the 81st Legislature, Regular
Session, 2009, does not amend Section 155.0211, Tax Code, in that
manner or is not enacted or does not become law, this section takes
effect January 1, 2010].
SECTION 3. Section 3(b), Chapter 286 (H.B. 4765), Acts of
the 81st Legislature, Regular Session, 2009, is amended to read as
follows:
(b) This section takes effect January 1, 2014 [2012, if H.B.
No. 2154, Acts of the 81st Legislature, Regular Session, 2009,
amends Section 155.0211, Tax Code, in a manner that results in an
increase in the revenue from the tax under that section during the
state fiscal biennium beginning September 1, 2009, that is
attributable to that change, and that Act is enacted and becomes
law. If H.B. No. 2154, Acts of the 81st Legislature, Regular
Session, 2009, does not amend Section 155.0211, Tax Code, in that
manner or is not enacted or does not become law, this section takes
effect January 1, 2010].
SECTION 4. 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.