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Enrolled Bill Summary

Enrolled Bill Summary

Legislative Session: 89(R)

89(R) SB 2206

The digital content on TLO has been updated to align with the accessibility standards required by WCAG 2.1.

 

Senate Bill 2206

Effective: 1-1-26

Senate Author: Bettencourt et al.

Senate Committee: Finance

House Sponsor: Geren

House Committee: Ways & Means

 

Current law provides a franchise tax credit for certain research and development activities and a sales and use tax exemption for certain property used in those activities, both of which are set to expire December 31, 2026. Senate Bill 2206 repeals the credit and exemption but amends the Tax Code to effectively maintain the franchise tax credit, revise the definition of "qualified research expense," and increase the amount of the credit.