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A BILL TO BE ENTITLED
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AN ACT
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relating to the retention of the $1 million total revenue exemption |
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for the franchise tax. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1(c), Chapter 286 (H.B. 4765), Acts of |
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the 81st Legislature, Regular Session, 2009, is repealed. |
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SECTION 2. Section 2, Chapter 286 (H.B. 4765), Acts of the |
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81st Legislature, Regular Session, 2009, which amended former |
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Subsection (d), Section 171.002, Tax Code, is repealed. |
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SECTION 3. Section 3, Chapter 286 (H.B. 4765), Acts of the |
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81st Legislature, Regular Session, 2009, which amended former |
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Subsection (a), Section 171.0021, Tax Code, is repealed. |
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SECTION 4. Section 171.0021, Tax Code, is repealed. |
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SECTION 5. Section 171.1016(d), Tax Code, is repealed. |
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SECTION 6. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2011. |