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A BILL TO BE ENTITLED
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AN ACT
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relating to the repeal 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. Effective January 1, 2022, Chapter 171, Tax |
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Code, is repealed. |
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SECTION 2. The change in law made by Section 1 of this Act |
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does not affect tax liability accruing before the effective date of |
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that section. That liability continues in effect as if this Act had |
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not been 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. Except as otherwise provided by this Act, this |
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Act takes effect September 1, 2021. |