| 1 | | - | By: Rodriguez of Bexar, Minjarez, Guillen H.B. No. 3230 |
|---|
| 2 | | - | (Senate Sponsor - Campbell) |
|---|
| 3 | | - | (In the Senate - Received from the House May 5, 2015; |
|---|
| 4 | | - | May 6, 2015, read first time and referred to Committee on Finance; |
|---|
| 5 | | - | May 20, 2015, reported favorably by the following vote: Yeas 12, |
|---|
| 6 | | - | Nays 0; May 20, 2015, sent to printer.) |
|---|
| 7 | | - | Click here to see the committee vote |
|---|
| 1 | + | H.B. No. 3230 |
|---|
| 11 | 4 | | AN ACT |
|---|
| 12 | 5 | | relating to the determination of eligible costs and expenses for |
|---|
| 13 | 6 | | purposes of the franchise tax credit for the rehabilitation of |
|---|
| 14 | 7 | | historic structures. |
|---|
| 15 | 8 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|---|
| 16 | 9 | | SECTION 1. Section 171.901(4), Tax Code, is amended to read |
|---|
| 17 | 10 | | as follows: |
|---|
| 18 | 11 | | (4) "Eligible costs and expenses" means qualified |
|---|
| 19 | 12 | | rehabilitation expenditures as defined by Section 47(c)(2), |
|---|
| 20 | 13 | | Internal Revenue Code, except that the depreciation and tax-exempt |
|---|
| 21 | 14 | | use provisions of that section do not apply to costs and expenses |
|---|
| 22 | 15 | | incurred by an entity exempt from the tax imposed under this chapter |
|---|
| 23 | 16 | | by Section 171.063, and those costs and expenses are eligible costs |
|---|
| 24 | 17 | | and expenses if the other provisions of Section 47(c)(2), Internal |
|---|
| 25 | 18 | | Revenue Code, are satisfied. |
|---|
| 26 | 19 | | SECTION 2. This Act applies only to a report originally due |
|---|
| 27 | 20 | | on or after the effective date of this Act. |
|---|
| 28 | 21 | | SECTION 3. This Act takes effect January 1, 2016. |
|---|
| 29 | | - | * * * * * |
|---|
| 22 | + | ______________________________ ______________________________ |
|---|
| 23 | + | President of the Senate Speaker of the House |
|---|
| 24 | + | I certify that H.B. No. 3230 was passed by the House on May 4, |
|---|
| 25 | + | 2015, by the following vote: Yeas 137, Nays 0, 2 present, not |
|---|
| 26 | + | voting. |
|---|
| 27 | + | ______________________________ |
|---|
| 28 | + | Chief Clerk of the House |
|---|
| 29 | + | I certify that H.B. No. 3230 was passed by the Senate on May |
|---|
| 30 | + | 24, 2015, by the following vote: Yeas 29, Nays 1. |
|---|
| 31 | + | ______________________________ |
|---|
| 32 | + | Secretary of the Senate |
|---|
| 33 | + | APPROVED: _____________________ |
|---|
| 34 | + | Date |
|---|
| 35 | + | _____________________ |
|---|
| 36 | + | Governor |
|---|