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  S.B. No. 550
 
 
 
 
AN ACT
  relating to the sale or assignment of tax credits for the certified
  rehabilitation of certified historic structures.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 171.908, Tax Code, is amended by adding
  Subsection (e) to read as follows:
         (e)  An entity to which all or part of a credit is sold or
  assigned and that is subject to a premium tax imposed under Chapter
  221, 222, 223, or 224, Insurance Code, may claim all or part of the
  credit against that tax.  The provisions of this subchapter,
  including provisions relating to the total amount of the credit
  that may be claimed for a report, the carryforward of the credit,
  and the sale or assignment of the credit, apply with respect to a
  credit claimed against a tax imposed under Chapter 221, 222, 223, or
  224, Insurance Code, to the same extent those provisions apply to a
  credit claimed against the tax imposed under this chapter.  An
  entity claiming all or part of a credit as authorized by this
  subsection is not required to pay any additional retaliatory tax
  levied under Chapter 281, Insurance Code, as a result of claiming
  that credit.
         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, 2017.
 
 
 
 
 
  ______________________________ ______________________________
     President of the Senate Speaker of the House     
 
         I hereby certify that S.B. No. 550 passed the Senate on
  March 28, 2017, by the following vote:  Yeas 29, Nays 2.
 
 
  ______________________________
  Secretary of the Senate    
 
         I hereby certify that S.B. No. 550 passed the House on
  April 20, 2017, by the following vote:  Yeas 139, Nays 5, two
  present not voting.
 
 
  ______________________________
  Chief Clerk of the House   
 
 
 
  Approved:
 
  ______________________________ 
              Date
 
 
  ______________________________ 
            Governor