| 1 | 1 | | 84R17494 ADM-F |
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| 2 | 2 | | By: Parker H.B. No. 2637 |
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| 3 | 3 | | Substitute the following for H.B. No. 2637: |
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| 4 | 4 | | By: Springer C.S.H.B. No. 2637 |
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| 5 | 5 | | |
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| 6 | 6 | | |
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| 7 | 7 | | A BILL TO BE ENTITLED |
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| 8 | 8 | | AN ACT |
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| 9 | 9 | | relating to apportionment of margin from receipts from the sale of |
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| 10 | 10 | | locomotives for purposes of the franchise tax. |
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| 11 | 11 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 12 | 12 | | SECTION 1. Section 171.106, Tax Code, is amended by adding |
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| 13 | 13 | | Subsection (h) to read as follows: |
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| 14 | 14 | | (h) The portion of a taxable entity's receipts from the sale |
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| 15 | 15 | | of locomotives sold for use in interstate commerce that are |
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| 16 | 16 | | receipts from business done in this state is determined by |
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| 17 | 17 | | multiplying the taxable entity's total receipts from the sale of |
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| 18 | 18 | | locomotives sold for use in interstate commerce by a fraction, the |
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| 19 | 19 | | numerator of which is the number of miles of railway track in this |
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| 20 | 20 | | state and the denominator of which is the number of miles of railway |
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| 21 | 21 | | track in the United States. In this subsection, "locomotive" means |
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| 22 | 22 | | self-propelled railroad equipment consisting of one or more units |
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| 23 | 23 | | designed to operate on stationary steel rails or electromagnetic |
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| 24 | 24 | | guideways. |
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| 25 | 25 | | SECTION 2. This Act applies only to a report originally due |
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| 26 | 26 | | on or after the effective date of this Act. |
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| 27 | 27 | | SECTION 3. This Act takes effect January 1, 2016. |
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