H.B. No. 4002
AN ACT
relating to the definition of production used in determining the
cost of goods sold for franchise tax purposes.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 171.1012(a)(2), Tax Code, is amended to
read as follows:
(2) "Production" means [includes] construction,
[installation,] manufacture, development, mining, extraction,
improvement, creation, raising, or growth.
SECTION 2. The amendment made by this Act to Section
171.1012, Tax Code, is a clarification of existing law and does not
imply that Section 171.1012, Tax Code, before the amendment made by
this Act may be construed as inconsistent with Section 171.1012,
Tax Code, as amended by this Act.
SECTION 3. This Act takes effect September 1, 2017.
______________________________ ______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 4002 was passed by the House on May 4,
2017, by the following vote: Yeas 143, Nays 0, 2 present, not
voting.
______________________________
Chief Clerk of the House
I certify that H.B. No. 4002 was passed by the Senate on May
19, 2017, by the following vote: Yeas 31, Nays 0.
______________________________
Secretary of the Senate
APPROVED: _____________________
Date
_____________________
Governor