By Oliveira H.B. No. 1892
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the application and administration of the franchise
1-3 tax.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Section 171.0011(e), Tax Code, is repealed.
1-6 SECTION 2. Section 171.113(e), Tax Code, is amended to read
1-7 as follows:
1-8 (e) The election under Subsection (b) becomes effective when
1-9 written notice of the election is received by the comptroller from
1-10 the corporation. An election under Subsection (b) must be
1-11 postmarked not later than the <original> due date for the electing
1-12 corporation's franchise tax report to which the election applies.
1-13 <No extension of time for filing the election under this section is
1-14 available.>
1-15 SECTION 3. Section 171.156, Tax Code, is repealed.
1-16 SECTION 4. Section 171.157, Tax Code, is repealed.
1-17 SECTION 5. Section 171.251, Tax Code, is amended to read as
1-18 follows:
1-19 Sec. 171.251. Forfeiture of Corporate Privileges. The
1-20 comptroller shall forfeit the corporate privileges of a corporation
1-21 on which the franchise tax is imposed if the corporation:
1-22 (1) does not file, in accordance with this chapter and
1-23 within 45 <90> days after the date notice of forfeiture is mailed
2-1 <it is due>, a report required by this chapter;
2-2 (2) does not pay, within 45 <90> days after the date
2-3 notice of forfeiture is mailed <it is due>, a tax imposed by this
2-4 chapter or does not pay, within those 45 <90> days, a penalty
2-5 imposed by this chapter relating to that tax; or
2-6 (3) does not permit the comptroller to examine under
2-7 Section 171.211 of this code the corporation's records.
2-8 SECTION 6. Section 171.256(c), Tax Code, is amended to read
2-9 as follows:
2-10 (c) The comptroller shall mail the notice to the corporation
2-11 at least <within> 45 days before the forfeiture of corporate
2-12 privileges <after the day on which the report, tax, or penalty is
2-13 due>. The notice shall be addressed to the corporation and mailed
2-14 to the address named in the corporation's charter as its principal
2-15 place of business or to another known place of business of the
2-16 corporation.
2-17 SECTION 7. This Act takes effect for reports originally due
2-18 on or after January 1, 1994.
2-19 SECTION 8. The importance of this legislation and the
2-20 crowded condition of the calendars in both houses create an
2-21 emergency and an imperative public necessity that the
2-22 constitutional rule requiring bills to be read on three several
2-23 days in each house be suspended, and this rule is hereby suspended.