Enrolled Bill Summary

Senate Bill 1614	Senate Author:  Perry
Effective:  Vetoed	House Sponsor:  Price

            Senate Bill 1614 amends the Tax Code to clarify that, for purposes of state law allowing an entity with the principal business activity of broadcasting to factor in the costs of goods sold when calculating franchise tax liability, "broadcasting" means television or radio broadcasting under a television or radio broadcast license issued by the FCC.

Governor's Reason for Veto: "While Senate Bill No. 1614 is important, it is simply not as important as cutting property taxes. At this time, the legislature must concentrate on delivering property tax cuts to Texans. This bill can be reconsidered at a future special session only after property tax relief is passed."