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TX SB3
TX SB3Relating to the amount of the total revenue exemption for the franchise tax and the exclusion of certain taxable entities from the requirement to file a franchise tax report.
summary
Introduced
07/10/2023
07/10/2023
In Committee
07/12/2023
07/12/2023
Crossed Over
07/12/2023
07/12/2023
Passed
07/13/2023
07/13/2023
Dead
Signed/Enacted/Adopted
07/22/2023
07/22/2023
Introduced Session
88th Legislature 2nd Special Session
Bill Summary
Relating to the amount of the total revenue exemption for the franchise tax and the exclusion of certain taxable entities from the requirement to file a franchise tax report.
AI Summary
This bill amends the Texas Tax Code to increase the total revenue exemption for the franchise tax from $1 million to $2.47 million per 12-month period. It also excludes certain taxable entities that do not owe any tax due to this increased exemption from the requirement to file a franchise tax report. The changes in this bill only apply to reports due on or after January 1, 2024, and the bill will only take effect if related property tax relief legislation is enacted.
Committee Categories
Budget and Finance
Sponsors (98)
Paul Bettencourt (R)*,
Drew Darby (R)*,
Charlie Geren (R)*,
Cole Hefner (R)*,
Morgan Meyer (R)*,
Richard Raymond (D)*,
Steve Allison (R),
Carol Alvarado (D),
Doc Anderson (R),
Trent Ashby (R),
Cecil Bell (R),
Keith Bell (R),
Brian Birdwell (R),
César Blanco (D),
Ben Bumgarner (R),
DeWayne Burns (R),
Angie Button (R),
Briscoe Cain (R),
Donna Campbell (R),
Giovanni Capriglione (R),
Travis Clardy (R),
David Cook (R),
Brandon Creighton (R),
Charles Cunningham (R),
Jay Dean (R),
Mano DeAyala (R),
Mark Dorazio (R),
Sarah Eckhardt (D),
Pete Flores (R),
Frederick Frazier (R),
Stan Gerdes (R),
Craig Goldman (R),
Ryan Guillen (R),
Roland Gutierrez (D),
Bob Hall (R),
Kelly Hancock (R),
Sam Harless (R),
Cody Harris (R),
Caroline Harris Davila (R),
Richard Hayes (R),
Abel Herrero (D),
Chuy Hinojosa (D),
Justin Holland (R),
Joan Huffman (R),
Bryan Hughes (R),
Lacey Hull (R),
Carrie Isaac (R),
Phil King (R),
Tracy King (D),
Stan Kitzman (R),
Lois Kolkhorst (R),
John Kuempel (R),
Morgan LaMantia (D),
Stan Lambert (R),
Brooks Landgraf (R),
Terri Leo-Wilson (R),
Janie Lopez (R),
J.M. Lozano (R),
John Lujan (R),
José Menéndez (D),
Will Metcalf (R),
Mayes Middleton (R),
Borris Miles (D),
Eddie Morales (D),
Geanie Morrison (R),
Robert Nichols (R),
Candy Noble (R),
Tom Oliverson (R),
Angelia Orr (R),
Tan Parker (R),
Jared Patterson (R),
Dennis Paul (R),
Angela Paxton (R),
Charles Perry (R),
Four Price (R),
John Raney (R),
Glenn Rogers (R),
Nate Schatzline (R),
Charles Schwertner (R),
Matt Shaheen (R),
Hugh Shine (R),
Shelby Slawson (R),
Reggie Smith (R),
Kevin Sparks (R),
David Spiller (R),
Drew Springer (R),
Lynn Stucky (R),
Carl Tepper (R),
Kronda Thimesch (R),
Ed Thompson (R),
Steve Toth (R),
Ellen Troxclair (R),
Gary VanDeaver (R),
Cody Vasut (R),
Royce West (D),
John Whitmire (D),
Terry Wilson (R),
Judith Zaffirini (D),
Last Action
Effective on 1/1/24 (on 07/22/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://capitol.texas.gov/BillLookup/History.aspx?LegSess=882&Bill=SB3 |
| Analysis (Enrolled) | https://capitol.texas.gov/tlodocs/882/analysis/html/SB00003F.htm |
| BillText | https://capitol.texas.gov/tlodocs/882/billtext/html/SB00003F.htm |
| BillText | https://capitol.texas.gov/tlodocs/882/billtext/html/SB00003E.htm |
| BillText | https://capitol.texas.gov/tlodocs/882/billtext/html/SB00003H.htm |
| Analysis (House Committee Report) | https://capitol.texas.gov/tlodocs/882/analysis/html/SB00003H.htm |
| Analysis (Introduced) | https://capitol.texas.gov/tlodocs/882/analysis/html/SB00003I.htm |
| Fiscal Note (Introduced) | https://capitol.texas.gov/tlodocs/882/fiscalnotes/html/SB00003I.htm |
| BillText | https://capitol.texas.gov/tlodocs/882/billtext/html/SB00003I.htm |
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