| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | By: Guillen H.B. No. 3404 | |
| 2 | 2 | ||
| 3 | 3 | ||
| 4 | 4 | A BILL TO BE ENTITLED | |
| 5 | 5 | AN ACT | |
| 6 | 6 | relating to the repeal of the franchise tax. | |
| 7 | 7 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 8 | 8 | SECTION 1. Effective January 1, 2022, Chapter 171, Tax | |
| 9 | 9 | Code, is repealed. | |
| 10 | 10 | SECTION 2. The change in law made by Section 1 of this Act | |
| 11 | 11 | does not affect tax liability accruing before the effective date of | |
| 12 | 12 | that section. That liability continues in effect as if this Act had | |
| 13 | 13 | not been enacted, and the former law is continued in effect for the | |
| 14 | 14 | collection of taxes due and for civil and criminal enforcement of | |
| 15 | 15 | the liability for those taxes. | |
| 16 | 16 | SECTION 3. Except as otherwise provided by this Act, this | |
| 17 | 17 | Act takes effect September 1, 2021. |