| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 84R944 KLA-D | |
| 2 | 2 | By: White of Tyler H.B. No. 84 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the exclusion of certain funds in determining total | |
| 8 | 8 | revenue for purposes of the franchise tax by taxable entities | |
| 9 | 9 | engaged in the business of harvesting trees for wood. | |
| 10 | 10 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 11 | 11 | SECTION 1. Section 171.1011, Tax Code, is amended by adding | |
| 12 | 12 | Subsection (g-9) to read as follows: | |
| 13 | 13 | (g-9) A taxable entity that is primarily engaged in the | |
| 14 | 14 | business of harvesting trees for wood shall exclude from its total | |
| 15 | 15 | revenue, to the extent included under Subsection (c)(1)(A), | |
| 16 | 16 | (c)(2)(A), or (c)(3), payments made by the taxable entity to a | |
| 17 | 17 | person who owns or controls the land from which the trees are | |
| 18 | 18 | harvested, provided that person is not the taxable entity. | |
| 19 | 19 | SECTION 2. This Act applies only to a report originally due | |
| 20 | 20 | on or after the effective date of this Act. | |
| 21 | 21 | SECTION 3. This Act takes effect January 1, 2016. |