| 1 | 1 | | 84R24788 TJB-F |
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| 2 | 2 | | By: Wray H.B. No. 3923 |
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| 3 | 3 | | Substitute the following for H.B. No. 3923: |
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| 4 | 4 | | By: Springer C.S.H.B. No. 3923 |
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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 the computation of cost of goods sold for purposes of |
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| 10 | 10 | | the franchise tax by taxable entities that transport ready-mixed |
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| 11 | 11 | | concrete; adding a provision subject to a criminal penalty. |
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| 12 | 12 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 13 | 13 | | SECTION 1. Section 171.1012, Tax Code, is amended by adding |
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| 14 | 14 | | Subsection (r) to read as follows: |
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| 15 | 15 | | (r) Notwithstanding Subsection (e)(3) or (6) or any other |
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| 16 | 16 | | provision of this section, a taxable entity that transports |
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| 17 | 17 | | ready-mixed concrete may subtract as cost of goods sold |
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| 18 | 18 | | distribution costs regardless of whether the taxable entity owns |
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| 19 | 19 | | the ready-mixed concrete. |
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| 20 | 20 | | SECTION 2. This Act applies only to a report originally due |
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| 21 | 21 | | on or after the effective date of this Act. |
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| 22 | 22 | | SECTION 3. This Act takes effect January 1, 2016. |
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