84R2650 BEF-D
 
  By: Bohac H.B. No. 1315
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to temporary permissive alternate rates for the franchise
  tax.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter A, Chapter 171, Tax Code, is amended
  by adding Section 171.0024 to read as follows:
         Sec. 171.0024.  TEMPORARY PERMISSIVE ALTERNATE RATES FOR
  2016 AND 2017. (a)  Notwithstanding Section 171.002(a) and subject
  to Section 171.1016 and Subsection (b) of this section, a taxable
  entity may elect to pay the tax imposed under this chapter at a rate
  of 0.95 percent of taxable margin.
         (b)  Notwithstanding Section 171.002(b) and subject to
  Section 171.1016, a taxable entity primarily engaged in retail or
  wholesale trade as defined by Sections 171.002(c) and (c-1) may
  elect to pay the tax imposed under this chapter at a rate of 0.475
  percent of taxable margin.
         (c)  This section applies only to a report originally due on
  or after January 1, 2016, and before January 1, 2018.
         (d)  This section expires December 31, 2017.
         SECTION 2.  This Act takes effect September 1, 2015.