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House Bill 3777 |
House Author: Noble |
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Effective: 1-1-22 |
Senate Sponsor: Nelson et al. |
House Bill 3777 amends the Tax Code to establish that expenditures by a nonprofit corporation exempt from federal income tax and the state franchise tax to rehabilitate a structure that is leased to a tax-exempt entity in a disqualified lease are not costs and expenses eligible for a franchise tax credit for the certified rehabilitation of a certified historic structure.