84R944 KLA-D
By: White of Tyler H.B. No. 84
A BILL TO BE ENTITLED
AN ACT
relating to the exclusion of certain funds in determining total
revenue for purposes of the franchise tax by taxable entities
engaged in the business of harvesting trees for wood.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 171.1011, Tax Code, is amended by adding
Subsection (g-9) to read as follows:
(g-9) A taxable entity that is primarily engaged in the
business of harvesting trees for wood shall exclude from its total
revenue, to the extent included under Subsection (c)(1)(A),
(c)(2)(A), or (c)(3), payments made by the taxable entity to a
person who owns or controls the land from which the trees are
harvested, provided that person is not the taxable entity.
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.