83R10564 CJC-F
By: Button H.B. No. 2684
A BILL TO BE ENTITLED
AN ACT
relating to an exemption from the franchise tax for certain
political subdivision corporations.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter B, Chapter 171, Tax Code, is amended
by adding Section 171.086 to read as follows:
Sec. 171.086. EXEMPTION: POLITICAL SUBDIVISION
CORPORATION. A political subdivision corporation formed under
Section 304.001, Local Government Code, is exempted from the
franchise tax.
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.