Texas 2015 - 84th Regular

Texas Senate Bill SB1541 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	84R9780 GRM-F
2	2	By: Perry S.B. No. 1541
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to certain reporting requirements for taxable entities.
8	8	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
9	9	SECTION 1. Section 153.301, Business Organizations Code, is
10	10	amended to read as follows:
11	11	Sec. 153.301. PERIODIC REPORT. The secretary of state may
12	12	require a domestic limited partnership or a foreign limited
13	13	partnership registered to transact business in this state that is
14	14	not required to file a public information report with the
15	15	comptroller under Section 171.203, Tax Code, to file a report not
16	16	more than once every four years as required by this subchapter.
17	17	SECTION 2. Section 302.012(a), Business Organizations
18	18	Code, is amended to read as follows:
19	19	(a) In June of each year, a professional association that is
20	20	not required to file a public information report with the
21	21	comptroller under Section 171.203, Tax Code, shall file with the
22	22	secretary of state a statement that:
23	23	(1) lists:
24	24	(A) the name and address of each member of the
25	25	association; and
26	26	(B) the name of each officer and governing person
27	27	of the association; and
28	28	(2) states that each member of the association is
29	29	licensed to provide the same type of professional service provided
30	30	by the association.
31	31	SECTION 3. Sections 171.203(a), (b), (d), and (e), Tax
32	32	Code, are amended to read as follows:
33	33	(a) A corporation, [or] limited liability company, limited
34	34	partnership, or professional association on which the franchise tax
35	35	is imposed, regardless of whether the entity [corporation or
36	36	limited liability company] is required to pay any tax, shall file a
37	37	report with the comptroller containing:
38	38	(1) the name of each corporation, [or] limited
39	39	liability company, limited partnership, or professional
40	40	association in which the corporation, [or] limited liability
41	41	company, limited partnership, or professional association filing
42	42	the report owns a 10 percent or greater interest and the percentage
43	43	owned by the entity [corporation or limited liability company];
44	44	(2) the name of each corporation, [or] limited
45	45	liability company, limited partnership, or professional
46	46	association that owns a 10 percent or greater interest in the
47	47	corporation, [or] limited liability company, limited partnership,
48	48	or professional association filing the report;
49	49	(3) the name, title, and mailing address of each
50	50	person who is:
51	51	(A) an officer or director of the corporation,
52	52	[or] limited liability company, or professional association on the
53	53	date the report is filed and the expiration date of each person's
54	54	term as an officer or director, if any; and
55	55	(B) a general partner of the limited partnership
56	56	on the date the report is filed;
57	57	(4) the name and address of the agent of the
58	58	corporation, [or] limited liability company, limited partnership,
59	59	or professional association designated under Section 171.354; and
60	60	(5) the address of the corporation's, [or] limited
61	61	liability company's, limited partnership's, or professional
62	62	association's principal office and principal place of business.
63	63	(b) The corporation, [or] limited liability company,
64	64	limited partnership, or professional association shall file the
65	65	report once a year on a form prescribed by the comptroller.
66	66	(d) The corporation, [or] limited liability company,
67	67	limited partnership, or professional association shall send a copy
68	68	of the report to each person named in the report under Subsection
69	69	(a)(3) who is not currently employed by the corporation, [or]
70	70	limited liability company, limited partnership, or professional
71	71	association or a related entity [corporation or limited liability
72	72	company] listed in Subsection (a)(1) or (2). An officer or director
73	73	of the corporation, [or] limited liability company, or professional
74	74	association, a general partner of the limited partnership, or
75	75	another authorized person must sign the report under a
76	76	certification that:
77	77	(1) all information contained in the report is true
78	78	and correct to the best of the person's knowledge; and
79	79	(2) a copy of the report has been mailed to each person
80	80	identified in this subsection on the date the return is filed.
81	81	(e) If a person's name is included in a report under
82	82	Subsection (a)(3) and the person is not an officer or director of
83	83	the corporation, [or] limited liability company, or professional
84	84	association, or a general partner of the limited partnership, as
85	85	applicable, on the date the report is filed, the person may file
86	86	with the comptroller a sworn statement disclaiming the person's
87	87	status as shown on the report. The comptroller shall maintain a
88	88	record of statements filed under this subsection and shall make
89	89	that information available on request using the same procedures the
90	90	comptroller uses for other requests for public information.
91	91	SECTION 4. (a) Section 153.301, Business Organizations
92	92	Code, as amended by this Act, applies only to a report filed on or
93	93	after the effective date of this Act. A report filed before the
94	94	effective date of this Act is governed by the law in effect on the
95	95	date the report was filed, and the former law is continued in effect
96	96	for that purpose.
97	97	(b) Section 302.012(a), Business Organizations Code, as
98	98	amended by this Act, applies only to an annual statement filed on or
99	99	after the effective date of this Act. An annual statement filed
100	100	before the effective date of this Act is governed by the law in
101	101	effect on the date the statement was filed, and the former law is
102	102	continued in effect for that purpose.
103	103	SECTION 5. This Act takes effect September 1, 2015.