| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 84R12185 BEF-D | |
| 2 | 2 | By: Bettencourt S.B. No. 1782 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the status of separate legal entities for purposes of | |
| 8 | 8 | the sales and use tax on aircraft. | |
| 9 | 9 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 10 | 10 | SECTION 1. Subchapter B, Chapter 151, Tax Code, is amended | |
| 11 | 11 | by adding Section 151.030 to read as follows: | |
| 12 | 12 | Sec. 151.030. SEPARATE LEGAL ENTITY STATUS IN RELATION TO | |
| 13 | 13 | AIRCRAFT. In relation to the application of the sales and use tax | |
| 14 | 14 | to an aircraft, the comptroller shall respect a sale, lease, | |
| 15 | 15 | rental, or other transaction between a legal entity and its owners | |
| 16 | 16 | or another legal entity to the same extent as a transaction between | |
| 17 | 17 | unrelated persons. | |
| 18 | 18 | SECTION 2. This Act takes effect immediately if it receives | |
| 19 | 19 | a vote of two-thirds of all the members elected to each house, as | |
| 20 | 20 | provided by Section 39, Article III, Texas Constitution. If this | |
| 21 | 21 | Act does not receive the vote necessary for immediate effect, this | |
| 22 | 22 | Act takes effect September 1, 2015. |