Amend CSHB 3928 as follows:                                                  

(1)  On page 1, line 8, strike "80 percent" and substitute 	"50 [80] percent".
	(2)  On page 1, line 10, strike "80 percent" and substitute 
"50 [80] percent".
	(3)  On page 1, line 14, strike "80 percent" and substitute 
"50 [80] percent".
	(4)  On page 1, lines 18 and 19, strike "80 percent" and 
substitute "50 percent".
	(5)  On page 1, line 20, strike "80 percent" and substitute 
"50 percent".
	(6)  Insert the following appropriately numbered SECTION to 
read as follows and renumber subsequent SECTIONS accordingly:
	SECTION ____.  Chapter 171, Tax Code, is amended by adding 
Subchapter K to read as follows:

SUBCHAPTER K.  TAX CREDIT FOR CERTAIN ART DONATIONS
	Sec. 171.521.  ENTITLEMENT TO CREDIT.  A taxable entity is 
entitled to a credit in the amount and under the conditions and 
limitations provided by this subchapter against the tax imposed 
under this chapter.
	Sec. 171.522.  QUALIFICATION.  A taxable entity qualifies 
for a credit under this subchapter if the taxable entity donates to 
an art museum in this state that is open to the public a work of art 
that:
		(1)  the taxable entity has owned for at least five 
years; and       
		(2)  the museum intends to include in the museum's 
permanent collection.
	Sec. 171.523.  AMOUNT; LIMITATIONS.  (a)  The amount of the 
credit is equal to the total appraised value of each work of art 
described by Section 171.522 that is donated during the privilege 
period.
	(b)  The credit claimed for each privilege period may not 
exceed the amount of franchise tax due, before any other applicable 
tax credits, for the privilege period.
	(c)  A taxable entity may claim a credit under this 
subchapter for an expenditure made during an accounting period only 
against the tax owed for the corresponding privilege period.
	(d)  A taxable entity may not carry over an expenditure made 
during a privilege period to a subsequent privilege period.
	(e)  A taxable entity may not convey, assign, or transfer a 
credit under this subchapter to another entity unless all of the 
assets of the taxable entity are conveyed, assigned, or transferred 
in the same transaction.
	Sec. 171.524.  APPLICATION FOR CREDIT.  A taxable entity 
must apply for a credit under this subchapter on or with the tax 
report for the period for which the credit is claimed.
	Sec. 171.525.  RULES.  The comptroller shall adopt rules 
necessary to implement this subchapter.