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| 1 | 1 | By: King of Zavala (Senate Sponsor - Hegar) H.B. No. 2451 | |
| 2 | 2 | (In the Senate - Received from the House May 6, 2013; | |
| 3 | 3 | May 7, 2013, read first time and referred to Committee on Finance; | |
| 4 | 4 | May 15, 2013, reported favorably by the following vote: Yeas 14, | |
| 5 | 5 | Nays 0; May 15, 2013, sent to printer.) | |
| 6 | 6 | ||
| 7 | 7 | ||
| 8 | 8 | A BILL TO BE ENTITLED | |
| 9 | 9 | AN ACT | |
| 10 | 10 | relating to the exclusion by taxable entities engaged in providing | |
| 11 | 11 | services as an agricultural aircraft operation of certain costs in | |
| 12 | 12 | determining total revenue for purposes of the franchise tax. | |
| 13 | 13 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 14 | 14 | SECTION 1. Section 171.1011, Tax Code, is amended by adding | |
| 15 | 15 | Subsection (w-1) to read as follows: | |
| 16 | 16 | (w-1) A taxable entity primarily engaged in the business of | |
| 17 | 17 | providing services as an agricultural aircraft operation, as | |
| 18 | 18 | defined by 14 C.F.R. Section 137.3, shall exclude from its total | |
| 19 | 19 | revenue the cost of labor, equipment, fuel, and materials used in | |
| 20 | 20 | providing those services. | |
| 21 | 21 | SECTION 2. This Act applies only to a report originally due | |
| 22 | 22 | on or after the effective date of this Act. | |
| 23 | 23 | SECTION 3. This Act takes effect January 1, 2014. | |
| 24 | 24 | * * * * * |