H.B. No. 4611
 
 
 
 
AN ACT
  relating to the treatment of proceeds from sales of certain loans
  and securities for purposes of apportionment under 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 (f-1) to read as follows:
         (f-1)  Notwithstanding Section 171.1055, if a lending
  institution categorizes a loan or security as "Securities Available
  for Sale" or "Trading Securities" under Financial Accounting
  Standard No. 115, the gross proceeds of the sale of that loan or
  security are considered gross receipts.  In this subsection,
  "Financial Accounting Standard No. 115" means the Financial
  Accounting Standard No. 115 in effect as of January 1, 2009, not
  including any changes made after that date.  In this subsection,
  "security" means a security as defined in Section 171.0001(13-a).
         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, 2010.
 
 
  ______________________________ ______________________________
     President of the Senate Speaker of the House     
 
 
         I certify that H.B. No. 4611 was passed by the House on May 1,
  2009, by the following vote:  Yeas 139, Nays 0, 1 present, not
  voting.
 
  ______________________________
  Chief Clerk of the House   
 
 
         I certify that H.B. No. 4611 was passed by the Senate on May
  27, 2009, by the following vote:  Yeas 31, Nays 0.
 
  ______________________________
  Secretary of the Senate    
  APPROVED:  _____________________
                     Date          
   
            _____________________
                   Governor