By: Oliveira H.B. No. 4611
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to treatment of the sale of loans or securities for
  apportionment purposes.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 171.106 (f) is amended to read as
  follows:
         §171.106 (f) Notwithstanding Section 171.1055, if a loan or
  security is treated as inventory of the seller for federal income
  tax purposes or generally accepted accounting principles, the gross
  proceeds of the sale of that loan or security are considered gross
  receipts.
         SECTION 2.  This Act takes effect September 1, 2009.