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A BILL TO BE ENTITLED
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AN ACT
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relating to the exemption of certain units conducting bingo games |
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from the franchise tax. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter B, Chapter 171, Tax Code, is amended |
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by adding Section 171.0635 to read as follows: |
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Sec. 171.0635. EXEMPTION; UNIT CONDUCTING BINGO GAMES. (a) |
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In this section: |
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(1) "Licensed authorized organization" has the |
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meaning assigned by Section 2001.002, Occupations Code. |
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(2) "Unit" has the meaning assigned by Section |
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2001.431, Occupations Code. |
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(b) A unit composed entirely of licensed authorized |
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organizations is exempted from the franchise tax. |
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SECTION 2. 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 3. This Act takes effect January 1, 2010. |