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Amend CSHB 3928 on page 1 by adding the following ARTICLE and
SECTION and renumbering the subsequent ARTICLES and SECTIONS
appropriately:
ARTICLE 1. LEGISLATIVE FINDINGS
SECTION 1.01. FINDINGS. The Legislature finds that:
(1) During the 79th Legislature, 3rd Called Session, 2006,
the Legislature passed HB 3 to restructure the state's franchise tax
to expand the tax to include newly taxed entities and change how the
tax is calculated;
(2) HB 3 was part of a package of bills whose intent was to
provide a long-term solution to the school finance problem facing
the state of Texas;
(3) The new taxes generated by HB 3 were to be appropriated to
the newly formed Property Tax Relief Fund.
SECTION 1.02. PURPOSE. As a result of the findings made by the
Legislature as stated in Section 1.01 of this article, the purposes
of this Act are to:
(1) make changes to the revised franchise tax.