| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 86R15246 CJC-F | |
| 2 | 2 | By: Murphy H.B. No. 4198 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the exclusion from total revenue of certain payments | |
| 8 | 8 | made by a performing rights society for purposes of computing the | |
| 9 | 9 | franchise tax. | |
| 10 | 10 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 11 | 11 | SECTION 1. Section 171.1011, Tax Code, is amended by adding | |
| 12 | 12 | Subsection (g-12) to read as follows: | |
| 13 | 13 | (g-12) A taxable entity that is a performing rights society | |
| 14 | 14 | that licenses the public performance of nondramatic musical works | |
| 15 | 15 | on behalf of a copyright owner shall exclude from its total revenue, | |
| 16 | 16 | to the extent included under Subsection (c)(1)(A), (c)(2)(A), or | |
| 17 | 17 | (c)(3), payments made to the public performance rights holder and | |
| 18 | 18 | copyright owner for whom the taxable entity licenses the public | |
| 19 | 19 | performance. | |
| 20 | 20 | SECTION 2. This Act applies only to a report originally due | |
| 21 | 21 | on or after the effective date of this Act. | |
| 22 | 22 | SECTION 3. This Act takes effect January 1, 2020. |