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Amend CSHB 1195 (house committee printing) in SECTION 1 of the bill by striking added Section 171.10131(a), Tax Code (page 1, lines 9 through 19), and substituting the following:
(a) In this section, "qualifying loan or grant proceeds" means the amount of money that:
(1) is received by a taxable entity in loans or grants:
(A) under the Coronavirus Aid, Relief, and Economic Security Act (15 U.S.C. Section 9001 et seq.), as amended by the Paycheck Protection Program Flexibility Act of 2020 (Pub. L. No. 116-142) and the Consolidated Appropriations Act, 2021 (Pub. L. No. 116-260); or
(B) from the restaurant revitalization fund established under Section 5003 of the American Rescue Plan Act of 2021 (Pub. L. No. 117-2); and
(2) is not included in the taxable entity's gross income for purposes of federal income taxation under:
(A) Sections 276 and 278 of the Consolidated Appropriations Act, 2021 (Pub. L. No. 116-260); or
(B) Section 9673 of the American Rescue Plan Act of 2021 (Pub. L. No. 117-2).