| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | By: Bernal H.B. No. 452 | |
| 2 | 2 | ||
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | ||
| 6 | 6 | A BILL TO BE ENTITLED | |
| 7 | 7 | AN ACT | |
| 8 | 8 | relating to a sales and use tax refund for certain small businesses. | |
| 9 | 9 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 10 | 10 | SECTION 1. Subchapter I, Chapter 151, Tax Code, is amended | |
| 11 | 11 | by adding Section 151.4306 to read as follows: | |
| 12 | 12 | Sec. 151.4306. TAX REFUNDS FOR CERTAIN SMALL BUSINESSES | |
| 13 | 13 | (a) This section applies only to small businesses as defined by | |
| 14 | 14 | Section 481.401(10), Government Code, and a person who files a | |
| 15 | 15 | rendition statement under Section 22.01, Tax Code. | |
| 16 | 16 | (b) Notwithstanding Section 111.104(b), a person who is | |
| 17 | 17 | subject to taxation of income-producing tangible personal property | |
| 18 | 18 | is entitled to an annual refund for taxes paid under this chapter | |
| 19 | 19 | equal to the amount of ad valorem tax paid on income-producing | |
| 20 | 20 | tangible personal property in the previous tax year. | |
| 21 | 21 | (c) A refund under this section shall not exceed the amount | |
| 22 | 22 | of taxes paid under this chapter. | |
| 23 | 23 | (d) The comptroller by rule may provide additional | |
| 24 | 24 | procedures for claiming a refund under this section. | |
| 25 | 25 | SECTION 2. This Act applies only to ad valorem taxes imposed | |
| 26 | 26 | for a tax year that begins on or after the effective date of this | |
| 27 | 27 | Act. | |
| 28 | 28 | SECTION 3. This Act takes effect January 1, 2026. |