Bill Text: TX HB3230 | 2015-2016 | 84th Legislature | Enrolled

Texas House Bill 3230 (Prior Session Legislation)

Bill Title: Relating to the determination of eligible costs and expenses for purposes of the franchise tax credit for the rehabilitation of historic structures.

Spectrum: Bipartisan Bill

Status: (Passed) 2015-06-17 - Effective on 1/1/16 [HB3230 Detail]

Download: Texas-2015-HB3230-Enrolled.html



	H.B. No. 3230




	AN ACT
	relating to the determination of eligible costs and expenses for
	purposes of the franchise tax credit for the rehabilitation of
	historic structures.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION 1. Section 171.901(4), Tax Code, is amended to read
	as follows:
	(4) "Eligible costs and expenses" means qualified
	rehabilitation expenditures as defined by Section 47(c)(2),
	Internal Revenue Code, except that the depreciation and tax-exempt
	use provisions of that section do not apply to costs and expenses
	incurred by an entity exempt from the tax imposed under this chapter
	by Section 171.063, and those costs and expenses are eligible costs
	and expenses if the other provisions of Section 47(c)(2), Internal
	Revenue Code, are satisfied.
	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.


	______________________________	______________________________
	President of the Senate	Speaker of the House


	I certify that H.B. No. 3230 was passed by the House on May 4,
	2015, by the following vote: Yeas 137, Nays 0, 2 present, not
	voting.

	______________________________
	Chief Clerk of the House


	I certify that H.B. No. 3230 was passed by the Senate on May
	24, 2015, by the following vote: Yeas 29, Nays 1.

	______________________________
	Secretary of the Senate
	APPROVED: _____________________
	Date

	_____________________
	Governor