This website will be unavailable from Friday, April 26, 2024 at 6:00 p.m. through Monday, April 29, 2024 at 7:00 a.m. due to data center maintenance.

                                                                                



By:  Ogden                                                        S.B. No. 1780


A BILL TO BE ENTITLED

AN ACT

relating to claiming a franchise tax credit for certain qualified 
capital investments.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Section 171.802, Tax Code, is amended by adding 
Subsection (d) to read as follows:
	(d)  A corporation may claim a credit or take a carryforward 
credit for a qualified capital investment made on or after January 
1, 2003, without regard to whether the county in which it makes the 
qualified capital investment has lost its designation as a 
strategic investment area if:
		(1)  the corporation committed to the investment in 
that county before January 2003;
		(2)  at the time the corporation made the commitment, 
the county was designated as a strategic investment area;
		(3)  the total investment is at least $100 million; and                
		(4)  the county has a population of less than 15,400.                  
	SECTION 2.  This Act takes effect immediately if it receives 
a vote of two-thirds of all the members elected to each house, as 
provided by Section 39, Article III, Texas Constitution.  If this 
Act does not receive the vote necessary for immediate effect, this 
Act takes effect September 1, 2003.