84R13839 TJB-F
By: Rodriguez of Bexar, Minjarez, Guillen H.B. No. 3230
A BILL TO BE ENTITLED
AN ACT
relating to the determination of eligible costs and expenses for
purposes of the franchise tax credit for the rehabilitation of
historic structures.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 171.901(4), Tax Code, is amended to read
as follows:
(4) "Eligible costs and expenses" means qualified
rehabilitation expenditures as defined by Section 47(c)(2),
Internal Revenue Code, except that the depreciation and tax-exempt
use provisions of that section do not apply to costs and expenses
incurred by an entity exempt from the tax imposed under this chapter
by Section 171.063, and those costs and expenses are eligible costs
and expenses if the other provisions of Section 47(c)(2), Internal
Revenue Code, are satisfied.
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, 2016.