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A BILL TO BE ENTITLED
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AN ACT
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relating to the computation of total consideration for purposes of |
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the motor vehicle sales and use tax. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Sections 152.002(d) and (e), Tax Code, are |
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amended to read as follows: |
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(d) A person who holds a vehicle lessor license under |
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Chapter 2301, Occupations Code, or is specifically not required to |
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obtain a lessor license under Section 2301.254(a) of that code may |
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deduct the fair market value of a replaced motor vehicle that has |
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been leased for longer than 180 days and is titled to another person |
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if: |
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(1) either person: |
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(A) holds a substantial [beneficial] ownership |
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interest, as determined under Section 151.107(d), in the other |
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person, including by: |
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(i) direct ownership; |
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(ii) common ownership; or |
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(iii) indirect ownership through a parent |
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entity, subsidiary, or affiliate [of at least 80 percent]; or |
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(B) acquires all of its vehicles exclusively from |
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franchised dealers whose franchisor shares common ownership with |
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the other person; and |
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(2) the replaced motor vehicle is offered for sale. |
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(e) A person who is a motor vehicle owner, is in the business |
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of renting motor vehicles, and holds a permit may deduct the fair |
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market value of a replaced motor vehicle that is titled to another |
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person if: |
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(1) either person: |
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(A) holds a substantial [beneficial] ownership |
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interest, as determined under Section 151.107(d), in the other |
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person, including by: |
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(i) direct ownership; |
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(ii) common ownership; or |
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(iii) indirect ownership through a parent |
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entity, subsidiary, or affiliate [of at least 80 percent]; or |
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(B) acquires all of its vehicles exclusively from |
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franchised dealers whose franchisor shares common ownership with |
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the other person; and |
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(2) the replaced motor vehicle is offered for sale. |
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SECTION 2. The change in law made by this Act does not |
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affect tax liability accruing before the effective date of this |
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Act. That liability continues in effect as if this Act had not been |
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enacted, and the former law is continued in effect for the |
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collection of taxes due and for civil and criminal enforcement of |
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the liability for those taxes. |
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SECTION 3. This Act takes effect September 1, 2015. |