82R4055 JE-D
 
  By: Murphy H.B. No. 701
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the total revenue exemption for the franchise tax.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 1(c), Chapter 286 (H.B. 4765), Acts of
  the 81st Legislature, Regular Session, 2009, is amended to read as
  follows:
         (c)  This [If this section takes effect, this] section
  expires December 31, 2013 [2011].
         SECTION 2.  Section 2(b), Chapter 286 (H.B. 4765), Acts of
  the 81st Legislature, Regular Session, 2009, is amended to read as
  follows:
         (b)  This section takes effect January 1, 2014 [2012, if H.B.
  No. 2154, Acts of the 81st Legislature, Regular Session, 2009,
  amends Section 155.0211, Tax Code, in a manner that results in an
  increase in the revenue from the tax under that section during the
  state fiscal biennium beginning September 1, 2009, that is
  attributable to that change, and that Act is enacted and becomes
  law. If H.B. No. 2154, Acts of the 81st Legislature, Regular
  Session, 2009, does not amend Section 155.0211, Tax Code, in that
  manner or is not enacted or does not become law, this section takes
  effect January 1, 2010].
         SECTION 3.  Section 3(b), Chapter 286 (H.B. 4765), Acts of
  the 81st Legislature, Regular Session, 2009, is amended to read as
  follows:
         (b)  This section takes effect January 1, 2014 [2012, if H.B.
  No. 2154, Acts of the 81st Legislature, Regular Session, 2009,
  amends Section 155.0211, Tax Code, in a manner that results in an
  increase in the revenue from the tax under that section during the
  state fiscal biennium beginning September 1, 2009, that is
  attributable to that change, and that Act is enacted and becomes
  law. If H.B. No. 2154, Acts of the 81st Legislature, Regular
  Session, 2009, does not amend Section 155.0211, Tax Code, in that
  manner or is not enacted or does not become law, this section takes
  effect January 1, 2010].
         SECTION 4.  This Act takes effect immediately if it receives
  a vote of two-thirds of all the members elected to each house, as
  provided by Section 39, Article III, Texas Constitution.  If this
  Act does not receive the vote necessary for immediate effect, this
  Act takes effect September 1, 2011.