Bill Text: TX SB1824 | 2019-2020 | 86th Legislature | Engrossed
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the exclusion from total revenue of certain payments made by a performing rights society for purposes of computing the franchise tax.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2019-06-04 - Effective immediately [SB1824 Detail]
Download: Texas-2019-SB1824-Engrossed.html
Bill Title: Relating to the exclusion from total revenue of certain payments made by a performing rights society for purposes of computing the franchise tax.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2019-06-04 - Effective immediately [SB1824 Detail]
Download: Texas-2019-SB1824-Engrossed.html
By: Perry | S.B. No. 1824 |
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relating to the exclusion from total revenue of certain payments | ||
made by a performing rights society for purposes of computing the | ||
franchise tax. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 171.1011, Tax Code, is amended by adding | ||
Subsection (g-12) to read as follows: | ||
(g-12) A taxable entity that is a performing rights society | ||
that licenses the public performance of nondramatic musical works | ||
on behalf of a copyright owner shall exclude from its total revenue, | ||
to the extent included under Subsection (c)(1)(A), (c)(2)(A), or | ||
(c)(3), payments made to the public performance rights holder and | ||
the copyright owner for whom the taxable entity licenses the public | ||
performance. | ||
SECTION 2. This Act takes effect immediately if it receives | ||
a vote of two-thirds of all the members elected to each house, as | ||
provided by Section 39, Article III, Texas Constitution. If this | ||
Act does not receive the vote necessary for immediate effect, this | ||
Act takes effect September 1, 2019. |