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A BILL TO BE ENTITLED
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AN ACT
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relating to a deduction under the franchise tax for physicians who |
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administer vaccines. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 171.1011(p), Tax Code, as effective |
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January 1, 2008, is amended by adding Subdivision (8) to read as |
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follows: |
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(8) "Vaccine" means a preparation of dead, or live |
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attenuated, viruses or bacteria used to prevent an infectious |
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disease by inducing active immunity. |
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SECTION 2. Section 171.1011, Tax Code, as effective January |
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1, 2008, is amended by adding Subsection (t) to read as follows: |
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(t) A taxable entity may exclude from total revenue: |
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(1) the actual cost paid by the taxable entity for a |
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vaccine dispensed by a physician licensed under Subtitle B, Title |
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3, Occupations Code, or dispensed by a person directed by the |
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physician; and |
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(2) to the extent included under Subsection (c)(1)(A), |
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(c)(2)(A), or (c)(3), any fee received by the taxable entity for the |
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vaccine dispensed under Subdivision (1). |
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SECTION 3. This Act applies only to a report originally due |
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on or after the effective date of this Act. |
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SECTION 4. This Act takes effect January 1, 2008. |