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A BILL TO BE ENTITLED
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AN ACT
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relating to the exclusion from total revenue of the cost of certain |
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vaccines for purposes of 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 171.1011(p), Tax Code, is amended by |
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amending Subdivision (4-a) and adding Subdivisions (4-b) and (8) to |
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read as follows: |
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(4-a) "Physician practice" means an entity that: |
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(A) is owned entirely by one or more individuals |
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licensed to practice medicine in this state under Subtitle B, Title |
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3, Occupations Code; and |
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(B) offers services, the provision of which is |
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considered practicing medicine as defined by Section |
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151.002(a)(13), Occupations Code. |
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(4-b) "Pro bono services" means the direct provision |
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of legal services to the poor, without an expectation of |
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compensation. |
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(8) "Vaccine" means a preparation or suspension of |
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dead, live attenuated, or live fully virulent viruses or bacteria, |
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or of antigenic proteins derived from them, used to prevent, |
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ameliorate, or treat an infectious disease. |
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SECTION 2. Section 171.1011, Tax Code, is amended by adding |
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Subsection (u) to read as follows: |
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(u) A taxable entity that is a physician practice shall |
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exclude from its total revenue the actual cost paid by the taxable |
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entity for a vaccine. |
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SECTION 3. 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 4. This Act takes effect January 1, 2014. |