86R15246 CJC-F
By: Murphy H.B. No. 4198
A BILL TO BE ENTITLED
AN ACT
relating to the exclusion from total revenue of certain payments
made by a performing rights society for purposes of computing the
franchise tax.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 171.1011, Tax Code, is amended by adding
Subsection (g-12) to read as follows:
(g-12) A taxable entity that is a performing rights society
that licenses the public performance of nondramatic musical works
on behalf of a copyright owner shall exclude from its total revenue,
to the extent included under Subsection (c)(1)(A), (c)(2)(A), or
(c)(3), payments made to the public performance rights holder and
copyright owner for whom the taxable entity licenses the public
performance.
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, 2020.