H.B. No. 2451
AN ACT
relating to the exclusion by taxable entities engaged in providing
services as an agricultural aircraft operation of certain costs in
determining total revenue for purposes of the franchise tax.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 171.1011, Tax Code, is amended by adding
Subsection (w-1) to read as follows:
(w-1) A taxable entity primarily engaged in the business of
providing services as an agricultural aircraft operation, as
defined by 14 C.F.R. Section 137.3, shall exclude from its total
revenue the cost of labor, equipment, fuel, and materials used in
providing those services.
SECTION 2. This Act applies only to a report originally due
on or after the effective date of this Act.
SECTION 3. This Act takes effect January 1, 2014.
______________________________ ______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 2451 was passed by the House on May 4,
2013, by the following vote: Yeas 129, Nays 4, 3 present, not
voting.
______________________________
Chief Clerk of the House
I certify that H.B. No. 2451 was passed by the Senate on May
22, 2013, by the following vote: Yeas 31, Nays 0.
______________________________
Secretary of the Senate
APPROVED: _____________________
Date
_____________________
Governor