83R744 CJC-D
 
  By: Hilderbran H.B. No. 213
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the $1 million 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, as amended by Section
  37.01, Chapter 4 (S.B. 1), Acts of the 82nd Legislature, 1st Called
  Session, 2011, is repealed.
         SECTION 2.  Section 2, Chapter 286 (H.B. 4765), Acts of the
  81st Legislature, Regular Session, 2009, as amended by Section
  37.02, Chapter 4 (S.B. 1), Acts of the 82nd Legislature, 1st Called
  Session, 2011, and which amended former Subsection (d), Section
  171.002, Tax Code, is repealed.
         SECTION 3.  Section 3, Chapter 286 (H.B. 4765), Acts of the
  81st Legislature, Regular Session, 2009, as amended by Section
  37.03, Chapter 4 (S.B. 1), Acts of the 82nd Legislature, 1st Called
  Session, 2011, and which amended former Subsection (a), Section
  171.0021, Tax Code, is repealed.
         SECTION 4.  Section 171.006(b), Tax Code, is amended to read
  as follows:
         (b)  Beginning in 2010, on January 1 of each even-numbered
  year, the amounts prescribed by Sections 171.002(d)(2)[,
  171.0021,] and 171.1013(c) are increased or decreased by an amount
  equal to the amount prescribed by those sections on December 31 of
  the preceding year multiplied by the percentage increase or
  decrease during the preceding state fiscal biennium in the consumer
  price index and rounded to the nearest $10,000.
         SECTION 5.  Sections 171.0021 and 171.1016(d), Tax Code, are
  repealed.
         SECTION 6.  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, 2013.