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A BILL TO BE ENTITLED
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AN ACT
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relating to a study regarding the reenactment of the franchise tax |
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credit for research and development expenditures. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter E, Chapter 171, Tax Code, is amended |
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by adding Section 171.215 to read as follows: |
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Sec. 171.215. STUDY OF AN INCENTIVE FOR RESEARCH AND |
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DEVELOPMENT ACTIVITIES. (a) The Legislative Budget Board shall |
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conduct a study of the costs and benefits to the state of reenacting |
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the tax incentive for research and development activities that was |
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in effect as Subchapter 0, Chapter 171, Tax Code, in 2006. As a part |
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of the study, the Legislative Budget Board shall examine the types |
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of research and development incentives available in other states. |
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(b) The Legislative Budget Board may seek the assistance of |
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other state agencies in conducting the study, but the study must be |
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completed utilizing existing resources available to the |
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Legislative Budget Board and any assisting agencies. |
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(c) The Legislative Budget Board shall report the results of |
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the study to the legislature not later than January 1, 2013. |
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(d) This section expires January 1, 2013. |
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SECTION 2. 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. |