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A BILL TO BE ENTITLED
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AN ACT
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relating to a sales and use tax refund for certain small businesses. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter I, Chapter 151, Tax Code, is amended |
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by adding Section 151.4306 to read as follows: |
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Sec. 151.4306. TAX REFUNDS FOR CERTAIN SMALL BUSINESSES |
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(a) This section applies only to small businesses as defined by |
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Section 481.401(10), Government Code, and a person who files a |
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rendition statement under Section 22.01, Tax Code. |
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(b) Notwithstanding Section 111.104(b), a person who is |
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subject to taxation of income-producing tangible personal property |
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is entitled to an annual refund for taxes paid under this chapter |
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equal to the amount of ad valorem tax paid on income-producing |
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tangible personal property in the previous tax year. |
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(c) A refund under this section shall not exceed the amount |
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of taxes paid under this chapter. |
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(d) The comptroller by rule may provide additional |
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procedures for claiming a refund under this section. |
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SECTION 2. This Act applies only to ad valorem taxes imposed |
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for a tax year that begins on or after the effective date of this |
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Act. |
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SECTION 3. This Act takes effect January 1, 2026. |