Floor Packet Page No. 142
Amend CSHB 3 as follows:
(1) On page 22, between lines 12 and 13, insert:
Sec. 251.018. CREDIT FOR CERTAIN BUSINESSES. (a) Subject to
Subsection (b) and (c), a taxable business that pays a tax under
this chapter is entitled to a credit under this chapter. The
(1) have over 15,000 employees and contract with the
United States Department of Defense; or
(2) have charges and fees levied or collected by the
State and political subdivisions under the authority of 49 U.S.C.
Sec. 40116(e) (2).
(b) A taxable business as described by subsection (a)(1) is
entitled to a credit of the entire amount of sales and use tax and ad
valorem tax paid to this state or a political subdivision of this
state against half of the tax paid under this chapter.
(c) A taxable business as described by Subsection (a)(2) is
entitled to a credit of the entire amount of charges and fees levied
or collected by this state or a political subdivision of this state
under the authority of 49 U.S.C. Section 40116(e)(2) against half
of the tax paid under this chapter. The credit shall accrue in the
quarter in which the charge or fee is paid.
(d) A taxable business may not receive a credit in an amount
that exceeds the amount of tax or assessment due after applying any
other credits. The taxable business may carry any unused credit
forward for not more that five years but it may not, at any time,
receive a credit in an amount that exceeds the amount of the tax or
assessment due, after applying any other credits.
(e) A taxable business may not convey, assign, or transfer
the credit allowed under this section to another entity unless all
of the assets of the business are conveyed, assigned, or
transferred in the same transaction.
(2) On page 38, strike lines 10 and 11 and substitute:
Sec. 151.423. REIMBURSEMENT TO TAXPAYER FOR TAX COLLECTIONS.
A taxpayer may deduct and withhold .016 [
one half] of one percent
of the amount of taxes due from the taxpayer on a timely return as
reimbursement for the cost of collecting the taxes imposed by this
chapter. The comptroller shall provide a card with each form
distributed for the collection of taxes under this chapter. The
card may be inserted by the taxpayer with the tax payment to provide
for contribution of all or part of the reimbursement provided by
this section for use as grants under Subchapter M, Chapter 56,
Education Code. If the taxpayer chooses to contribute the
reimbursement for the grants, the taxpayer shall include the amount
of the reimbursement contribution with the tax payment. The
comptroller shall transfer money contributed under this section for
grants under Subchapter M, Chapter 56, Education Code, to the