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A BILL TO BE ENTITLED
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AN ACT
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relating to a franchise tax credit for the employment of persons |
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with a disability or veterans of the United States armed forces. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 171, Tax Code, is amended by adding |
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Subchapter L to read as follows: |
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SUBCHAPTER L. TAX CREDIT FOR EMPLOYMENT OF PERSONS WITH A |
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DISABILITY AND VETERANS |
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Sec. 171.651. DEFINITION. In this chapter, "disability" |
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means a physical or mental impairment that substantially limits one |
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or more major life activities. |
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Sec. 171.652. ENTITLEMENT TO CREDIT. A taxable entity is |
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entitled to a credit in the amount and under the conditions and |
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limitations provided by this subchapter against the tax imposed |
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under this chapter. |
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Sec. 171.653. QUALIFICATION. A taxable entity qualifies |
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for a credit under this subchapter for each employee who: |
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(1) is originally hired for a position located or |
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based in this state; |
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(2) at the time of being hired, has a disability or is |
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a veteran of the armed forces of the United States; |
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(3) remains continuously employed with the entity in a |
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position located or based in this state for a period of at least six |
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months; |
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(4) works an average of at least 40 hours a week; and |
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(5) receives the same benefits as the employer's other |
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workers. |
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Sec. 171.654. AMOUNT; LIMITATIONS. (a) The amount of the |
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credit under this subchapter is $500 for each employee described by |
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Section 171.653. A taxable entity may claim the credit only one |
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time for each employee and may not claim the credit for the same |
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employee in more than one report. |
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(b) The total credit claimed for a report may not exceed the |
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amount of franchise tax due for the report before any other |
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applicable tax credits. |
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Sec. 171.655. APPLICATION FOR CREDIT. A taxable entity |
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must apply for a credit under this subchapter on or with the report |
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for the period for which the credit is claimed. |
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Sec. 171.656. RULES. The comptroller shall adopt rules |
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necessary to implement this subchapter. |
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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, 2012. |