84R9780 GRM-F
By: Otto H.B. No. 2891
A BILL TO BE ENTITLED
AN ACT
relating to certain reporting requirements for taxable entities.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 153.301, Business Organizations Code, is
amended to read as follows:
Sec. 153.301. PERIODIC REPORT. The secretary of state may
require a domestic limited partnership or a foreign limited
partnership registered to transact business in this state that is
not required to file a public information report with the
comptroller under Section 171.203, Tax Code, to file a report not
more than once every four years as required by this subchapter.
SECTION 2. Section 302.012(a), Business Organizations
Code, is amended to read as follows:
(a) In June of each year, a professional association that is
not required to file a public information report with the
comptroller under Section 171.203, Tax Code, shall file with the
secretary of state a statement that:
(1) lists:
(A) the name and address of each member of the
association; and
(B) the name of each officer and governing person
of the association; and
(2) states that each member of the association is
licensed to provide the same type of professional service provided
by the association.
SECTION 3. Sections 171.203(a), (b), (d), and (e), Tax
Code, are amended to read as follows:
(a) A corporation, [or] limited liability company, limited
partnership, or professional association on which the franchise tax
is imposed, regardless of whether the entity [corporation or
limited liability company] is required to pay any tax, shall file a
report with the comptroller containing:
(1) the name of each corporation, [or] limited
liability company, limited partnership, or professional
association in which the corporation, [or] limited liability
company, limited partnership, or professional association filing
the report owns a 10 percent or greater interest and the percentage
owned by the entity [corporation or limited liability company];
(2) the name of each corporation, [or] limited
liability company, limited partnership, or professional
association that owns a 10 percent or greater interest in the
corporation, [or] limited liability company, limited partnership,
or professional association filing the report;
(3) the name, title, and mailing address of each
person who is:
(A) an officer or director of the corporation,
[or] limited liability company, or professional association on the
date the report is filed and the expiration date of each person's
term as an officer or director, if any; and
(B) a general partner of the limited partnership
on the date the report is filed;
(4) the name and address of the agent of the
corporation, [or] limited liability company, limited partnership,
or professional association designated under Section 171.354; and
(5) the address of the corporation's, [or] limited
liability company's, limited partnership's, or professional
association's principal office and principal place of business.
(b) The corporation, [or] limited liability company,
limited partnership, or professional association shall file the
report once a year on a form prescribed by the comptroller.
(d) The corporation, [or] limited liability company,
limited partnership, or professional association shall send a copy
of the report to each person named in the report under Subsection
(a)(3) who is not currently employed by the corporation, [or]
limited liability company, limited partnership, or professional
association or a related entity [corporation or limited liability
company] listed in Subsection (a)(1) or (2). An officer or director
of the corporation, [or] limited liability company, or professional
association, a general partner of the limited partnership, or
another authorized person must sign the report under a
certification that:
(1) all information contained in the report is true
and correct to the best of the person's knowledge; and
(2) a copy of the report has been mailed to each person
identified in this subsection on the date the return is filed.
(e) If a person's name is included in a report under
Subsection (a)(3) and the person is not an officer or director of
the corporation, [or] limited liability company, or professional
association, or a general partner of the limited partnership, as
applicable, on the date the report is filed, the person may file
with the comptroller a sworn statement disclaiming the person's
status as shown on the report. The comptroller shall maintain a
record of statements filed under this subsection and shall make
that information available on request using the same procedures the
comptroller uses for other requests for public information.
SECTION 4. (a) Section 153.301, Business Organizations
Code, as amended by this Act, applies only to a report filed on or
after the effective date of this Act. A report filed before the
effective date of this Act is governed by the law in effect on the
date the report was filed, and the former law is continued in effect
for that purpose.
(b) Section 302.012(a), Business Organizations Code, as
amended by this Act, applies only to an annual statement filed on or
after the effective date of this Act. An annual statement filed
before the effective date of this Act is governed by the law in
effect on the date the statement was filed, and the former law is
continued in effect for that purpose.
SECTION 5. This Act takes effect September 1, 2015.