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AN ACT
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relating to the computation of the cost of goods sold by television |
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and radio broadcasters for purposes 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. Section 171.1012(o), Tax Code, is amended to |
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read as follows: |
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(o) If a taxable entity, including a taxable entity with |
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respect to which cost of goods sold is determined pursuant to |
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Section 171.1014(e)(1), whose principal business activity is film |
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or television production, television or radio broadcasting, [or] |
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the distribution of tangible personal property described by |
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Subsection (a)(3)(A)(ii), or any combination of these activities, |
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elects to subtract cost of goods sold, the cost of goods sold for |
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the taxable entity shall be the costs described in this section in |
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relation to the property and include depreciation, amortization, |
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and other expenses directly related to the acquisition, production, |
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or use of the property, including expenses for the right to |
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broadcast or use the property. For purposes of this subsection, |
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"television or radio broadcasting" means television or radio |
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broadcasting under a television or radio broadcast license issued |
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by the Federal Communications Commission and regulated under 47 |
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C.F.R. Part 73 or 74. |
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SECTION 2. The amendment made by this Act is a clarification |
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of existing law and does not imply that existing law may be |
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construed as inconsistent with the law as amended by this Act. |
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SECTION 3. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2023. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I hereby certify that S.B. No. 1614 passed the Senate on |
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April 12, 2023, by the following vote: Yeas 31, Nays 0. |
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______________________________ |
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Secretary of the Senate |
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I hereby certify that S.B. No. 1614 passed the House on |
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May 19, 2023, by the following vote: Yeas 131, Nays 12, two |
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present not voting. |
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______________________________ |
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Chief Clerk of the House |
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Approved: |
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______________________________ |
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Date |
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______________________________ |
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Governor |