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AN ACT
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relating to certain expenditures by public institutions of higher |
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education and university systems that are eligible for certain tax |
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credits. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. (a) Section 172.102(b), Tax Code, is amended to |
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read as follows: |
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(b) Except as provided by Subsection (c), the depreciation |
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and tax-exempt use provisions of Section 47(c)(2), Internal Revenue |
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Code, do not apply to costs and expenses incurred by an entity |
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exempted from the federal income tax under Section 501(a), Internal |
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Revenue Code, or by an institution of higher education or |
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university system as defined by Section 61.003, Education Code, and |
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those costs and expenses are eligible costs and expenses if the |
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other provisions of Section 47(c)(2), Internal Revenue Code, are |
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satisfied. |
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(b) Effective January 1, 2035, Section 172.102(b), Tax |
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Code, is amended to read as follows: |
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(b) Except as provided by Subsection (c), the depreciation |
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and tax-exempt use provisions of Section 47(c)(2), Internal Revenue |
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Code, do not apply to costs and expenses incurred by an entity |
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exempted from the federal income tax under Section 501(a), Internal |
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Revenue Code, and those costs and expenses are eligible costs and |
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expenses if the other provisions of Section 47(c)(2), Internal |
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Revenue Code, are satisfied. |
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SECTION 2. (a) Section 172.102(b), Tax Code, as amended by |
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Section 1(a) of this Act, applies only to costs and expenses |
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incurred on or after the effective date of this Act. |
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(b) Section 172.102(b), Tax Code, as amended by Section 1(b) |
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of this Act, applies only to costs and expenses incurred on or after |
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January 1, 2035. |
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SECTION 3. This Act takes effect January 1, 2026. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I certify that H.B. No. 4044 was passed by the House on May 2, |
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2025, by the following vote: Yeas 113, Nays 24, 1 present, not |
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voting. |
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______________________________ |
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Chief Clerk of the House |
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I certify that H.B. No. 4044 was passed by the Senate on May |
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25, 2025, by the following vote: Yeas 25, Nays 6. |
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______________________________ |
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Secretary of the Senate |
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APPROVED: _____________________ |
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Date |
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_____________________ |
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Governor |