Bill > SB1058

This bill amends the Texas Tax Code to create a new tax provision for registered securities market operators, specifically allowing them to exclude certain transaction rebate payments from their total revenue calculations. The bill defines several key terms, including "broker" and "dealer" according to federal securities law, and establishes that a "registered securities market operator" is an entity engaged in specific industry classification activities and regulated by the Securities and Exchange Commission or Commodity Futures Trading Commission. Under the new provision, transaction rebate payments (amounts paid to incentivize brokers or dealers to provide market liquidity) can be excluded from total revenue calculations. The bill will apply to tax reports originally due on or after January 1, 2026, providing clarity and potential tax relief for securities market operators by allowing them to remove certain transaction-related payments from their taxable revenue base. This change appears designed to support the financial operations of securities market operators by reducing their potential tax burden on specific types of market-facilitating payments.

Budget and Finance, Business and Industry

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=SB1058