By: King of Zavala (Senate Sponsor - Hegar) H.B. No. 2451
(In the Senate - Received from the House May 6, 2013;
May 7, 2013, read first time and referred to Committee on Finance;
May 15, 2013, reported favorably by the following vote: Yeas 14,
Nays 0; May 15, 2013, sent to printer.)
A BILL TO BE ENTITLED
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.
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