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A BILL TO BE ENTITLED
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AN ACT
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relating to certain reporting requirements for taxable entities. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 153.301, Business Organizations Code, is |
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amended to read as follows: |
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Sec. 153.301. PERIODIC REPORT. The secretary of state may |
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require a domestic limited partnership or a foreign limited |
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partnership registered to transact business in this state that is |
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not required to file a public information report with the |
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comptroller under Section 171.203, Tax Code, to file a report not |
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more than once every four years as required by this subchapter. |
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SECTION 2. Section 302.012(a), Business Organizations |
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Code, is amended to read as follows: |
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(a) In June of each year, a professional association that is |
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not required to file a public information report with the |
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comptroller under Section 171.203, Tax Code, shall file with the |
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secretary of state a statement that: |
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(1) lists: |
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(A) the name and address of each member of the |
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association; and |
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(B) the name of each officer and governing person |
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of the association; and |
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(2) states that each member of the association is |
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licensed to provide the same type of professional service provided |
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by the association. |
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SECTION 3. Sections 171.203(a), (b), (d), and (e), Tax |
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Code, are amended to read as follows: |
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(a) A corporation, [or] limited liability company, limited |
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partnership, or professional association on which the franchise tax |
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is imposed, regardless of whether the entity [corporation or
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limited liability company] is required to pay any tax, shall file a |
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report with the comptroller containing: |
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(1) the name of each corporation, [or] limited |
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liability company, limited partnership, or professional |
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association in which the corporation, [or] limited liability |
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company, limited partnership, or professional association filing |
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the report owns a 10 percent or greater interest and the percentage |
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owned by the entity [corporation or limited liability company]; |
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(2) the name of each corporation, [or] limited |
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liability company, limited partnership, or professional |
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association that owns a 10 percent or greater interest in the |
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corporation, [or] limited liability company, limited partnership, |
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or professional association filing the report; |
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(3) the name, title, and mailing address of each |
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person who is: |
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(A) an officer or director of the corporation, |
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[or] limited liability company, or professional association on the |
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date the report is filed and the expiration date of each person's |
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term as an officer or director, if any; and |
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(B) a general partner of the limited partnership |
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on the date the report is filed; |
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(4) the name and address of the agent of the |
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corporation, [or] limited liability company, limited partnership, |
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or professional association designated under Section 171.354; and |
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(5) the address of the corporation's, [or] limited |
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liability company's, limited partnership's, or professional |
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association's principal office and principal place of business. |
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(b) The corporation, [or] limited liability company, |
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limited partnership, or professional association shall file the |
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report once a year on a form prescribed by the comptroller. |
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(d) The corporation, [or] limited liability company, |
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limited partnership, or professional association shall send a copy |
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of the report to each person named in the report under Subsection |
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(a)(3) who is not currently employed by the corporation, [or] |
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limited liability company, limited partnership, or professional |
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association or a related entity [corporation or limited liability
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company] listed in Subsection (a)(1) or (2). An officer or director |
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of the corporation, [or] limited liability company, or professional |
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association, a general partner of the limited partnership, or |
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another authorized person must sign the report under a |
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certification that: |
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(1) all information contained in the report is true |
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and correct to the best of the person's knowledge; and |
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(2) a copy of the report has been mailed to each person |
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identified in this subsection on the date the return is filed. |
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(e) If a person's name is included in a report under |
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Subsection (a)(3) and the person is not an officer or director of |
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the corporation, [or] limited liability company, or professional |
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association, or a general partner of the limited partnership, as |
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applicable, on the date the report is filed, the person may file |
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with the comptroller a sworn statement disclaiming the person's |
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status as shown on the report. The comptroller shall maintain a |
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record of statements filed under this subsection and shall make |
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that information available on request using the same procedures the |
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comptroller uses for other requests for public information. |
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SECTION 4. (a) Section 153.301, Business Organizations |
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Code, as amended by this Act, applies only to a report filed on or |
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after the effective date of this Act. A report filed before the |
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effective date of this Act is governed by the law in effect on the |
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date the report was filed, and the former law is continued in effect |
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for that purpose. |
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(b) Section 302.012(a), Business Organizations Code, as |
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amended by this Act, applies only to an annual statement filed on or |
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after the effective date of this Act. An annual statement filed |
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before the effective date of this Act is governed by the law in |
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effect on the date the statement was filed, and the former law is |
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continued in effect for that purpose. |
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SECTION 5. This Act takes effect September 1, 2015. |