Bill Text: TX HB2637 | 2015-2016 | 84th Legislature | Introduced
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to apportionment of margin from receipts from the sale of locomotives for purposes of the franchise tax.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2015-05-13 - Placed on General State Calendar [HB2637 Detail]
Download: Texas-2015-HB2637-Introduced.html
Bill Title: Relating to apportionment of margin from receipts from the sale of locomotives for purposes of the franchise tax.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2015-05-13 - Placed on General State Calendar [HB2637 Detail]
Download: Texas-2015-HB2637-Introduced.html
84R10847 ADM-F | ||
By: Parker | H.B. No. 2637 |
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relating to apportionment of margin from receipts from the sale of | ||
locomotives for purposes of the franchise tax. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 171.106, Tax Code, is amended by adding | ||
Subsection (h) to read as follows: | ||
(h) A taxable entity's margin that is derived from receipts | ||
from the sale of locomotives sold for use in interstate commerce is | ||
apportioned to this state to determine the amount of the tax imposed | ||
under Section 171.002 by multiplying the taxable entity's total | ||
margin from receipts from the sale of locomotives sold for use in | ||
interstate commerce by a fraction, the numerator of which is the | ||
number of miles of railway track in this state and the denominator | ||
of which is the number of miles of railway track in the United | ||
States. In this subsection, "locomotive" means self-propelled | ||
railroad equipment consisting of one or more units designed to | ||
operate on stationary steel rails or electromagnetic guideways. | ||
SECTION 2. This Act applies only to a report originally due | ||
on or after the effective date of this Act. | ||
SECTION 3. This Act takes effect January 1, 2016. |