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AN ACT
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relating to a study regarding the reenactment of the franchise tax |
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credit or providing other incentives for certain research and |
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development activities. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter E, Chapter 171, Tax Code, is amended |
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by adding Section 171.215 to read as follows: |
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Sec. 171.215. STUDY OF INCENTIVES FOR RESEARCH AND |
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DEVELOPMENT ACTIVITIES. (a) The Legislative Budget Board shall |
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conduct a study of: |
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(1) the costs and benefits to the state of reenacting |
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the tax credit for research and development activities in effect |
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under Subchapter O before the repeal of that subchapter by Chapter 1 |
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(H.B. 3), Acts of the 79th Legislature, 3rd Called Session, 2006; |
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and |
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(2) the types of research and development incentives |
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available in other states. |
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(b) The Legislative Budget Board may seek the assistance of |
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other state agencies in conducting the study, but the study must be |
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completed using existing resources available to the Legislative |
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Budget Board and any assisting agencies. |
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(c) The Legislative Budget Board shall report the results of |
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the study to the legislature not later than January 1, 2013. |
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(d) This section expires September 1, 2013. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2011. |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I certify that H.B. No. 2383 was passed by the House on May |
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13, 2011, by the following vote: Yeas 138, Nays 0, 1 present, not |
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voting. |
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______________________________ |
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Chief Clerk of the House |
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I certify that H.B. No. 2383 was passed by the Senate on May |
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21, 2011, by the following vote: Yeas 31, Nays 0. |
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______________________________ |
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Secretary of the Senate |
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APPROVED: _____________________ |
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Date |
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_____________________ |
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Governor |