Texas 2021 - 87th Regular

Texas House Bill HB3000 Compare Versions

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

Old	New	Differences
1	1	87R9574 CJC-D
2	2	By: Cason H.B. No. 3000
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to the repeal of the franchise tax; making an
8	8	appropriation.
9	9	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	10	SECTION 1. (a) Chapter 171, Tax Code, is repealed.
11	11	(b) A taxable entity that is subject to the franchise tax
12	12	imposed under Chapter 171, Tax Code, on December 31, 2021, is not
13	13	required to file a franchise tax report or pay a tax on the taxable
14	14	entity's taxable margin for the period ending on that date.
15	15	(c) Chapter 171, Tax Code, as that chapter existed
16	16	immediately before its repeal by this Act, and Subtitle B, Title 2,
17	17	Tax Code, continue to apply to audits, deficiencies,
18	18	redeterminations, and refunds of any tax due or collected under
19	19	Chapter 171 until barred by limitations.
20	20	(d) The repeal of Chapter 171, Tax Code, does not affect:
21	21	(1) the status of a taxable entity that has had its
22	22	corporate privileges, certificate of authority, certificate of
23	23	organization, certificate of limited partnership, corporate
24	24	charter, or registration revoked, suit filed against it, or a
25	25	receiver appointed under Subchapter F, G, or H of that chapter;
26	26	(2) the ability of the comptroller of public accounts,
27	27	secretary of state, or attorney general to take action against a
28	28	taxable entity under Subchapter F, G, or H of that chapter for
29	29	actions that took place before the repeal; or
30	30	(3) the right of a taxable entity to contest a
31	31	forfeiture, revocation, lawsuit, or appointment of a receiver under
32	32	Subchapter F, G, or H of that chapter.
33	33	SECTION 2. (a) Not later than December 1, 2021, the
34	34	comptroller of public accounts, in consultation with the
35	35	Legislative Budget Board, shall determine the total amount of
36	36	revenue anticipated to have been received by this state during the
37	37	state fiscal biennium ending August 31, 2023, attributable to the
38	38	tax imposed under Chapter 171, Tax Code, if that chapter were not
39	39	repealed.
40	40	(b) On January 1, 2022, the amount determined under
41	41	Subsection (a) of this section is appropriated from the economic
42	42	stabilization fund to the comptroller of public accounts for the
43	43	purpose of depositing that amount to the credit of the general
44	44	revenue fund as money available for use during the state fiscal
45	45	biennium ending August 31, 2023, to make expenditures previously
46	46	authorized by appropriations from general revenue for that state
47	47	fiscal biennium.
48	48	SECTION 3. This Act takes effect January 1, 2022, but only
49	49	if:
50	50	(1) this Act receives a vote of two-thirds of the
51	51	members present in each house of the legislature, as provided by
52	52	Section 49-g(m), Article III, Texas Constitution; and
53	53	(2) the total amount of appropriations made by the
54	54	General Appropriations Act for the state fiscal biennium ending
55	55	August 31, 2023, is at least three percent less than the total
56	56	amount of appropriations made by the General Appropriations Act for
57	57	the state fiscal biennium ending August 31, 2021.