| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | By: Button, et al. (Senate Sponsor - Hinojosa) H.B. No. 2684 | |
| 2 | 2 | (In the Senate - Received from the House April 29, 2013; | |
| 3 | 3 | April 29, 2013, read first time and referred to Committee on | |
| 4 | 4 | Finance; May 20, 2013, reported favorably by the following vote: | |
| 5 | 5 | Yeas 14, Nays 0; May 20, 2013, sent to printer.) | |
| 6 | 6 | ||
| 7 | 7 | ||
| 8 | 8 | A BILL TO BE ENTITLED | |
| 9 | 9 | AN ACT | |
| 10 | 10 | relating to an exemption from the franchise tax for certain | |
| 11 | 11 | political subdivision corporations. | |
| 12 | 12 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 13 | 13 | SECTION 1. Subchapter B, Chapter 171, Tax Code, is amended | |
| 14 | 14 | by adding Section 171.086 to read as follows: | |
| 15 | 15 | Sec. 171.086. EXEMPTION: POLITICAL SUBDIVISION | |
| 16 | 16 | CORPORATION. A political subdivision corporation formed under | |
| 17 | 17 | Section 304.001, Local Government Code, is exempted from the | |
| 18 | 18 | franchise tax. | |
| 19 | 19 | SECTION 2. This Act applies only to a report originally due | |
| 20 | 20 | on or after the effective date of this Act. | |
| 21 | 21 | SECTION 3. This Act takes effect January 1, 2014. | |
| 22 | 22 | * * * * * |