Bill Text: TX HB1127 | 2015-2016 | 84th Legislature | Introduced
Bill Title: Relating to the computation of total consideration for purposes of the motor vehicle sales and use tax.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2015-04-14 - Withdrawn from schedule [HB1127 Detail]
Download: Texas-2015-HB1127-Introduced.html
84R4834 TJB-F | ||
By: Gonzales | H.B. No. 1127 |
|
||
|
||
relating to the computation of total consideration for purposes of | ||
the motor vehicle sales and use tax. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Sections 152.002(d) and (e), Tax Code, are | ||
amended to read as follows: | ||
(d) A person who holds a vehicle lessor license under | ||
Chapter 2301, Occupations Code, or is specifically not required to | ||
obtain a lessor license under Section 2301.254(a) of that code may | ||
deduct the fair market value of a replaced motor vehicle that has | ||
been leased for longer than 180 days and is titled to another person | ||
if: | ||
(1) either person: | ||
(A) holds a substantial [ |
||
interest, as determined under Section 151.107(d), in the other | ||
person, including by: | ||
(i) direct ownership; | ||
(ii) common ownership; or | ||
(iii) indirect ownership through a parent | ||
entity, subsidiary, or affiliate [ |
||
(B) acquires all of its vehicles exclusively from | ||
franchised dealers whose franchisor shares common ownership with | ||
the other person; and | ||
(2) the replaced motor vehicle is offered for sale. | ||
(e) A person who is a motor vehicle owner, is in the business | ||
of renting motor vehicles, and holds a permit may deduct the fair | ||
market value of a replaced motor vehicle that is titled to another | ||
person if: | ||
(1) either person: | ||
(A) holds a substantial [ |
||
interest, as determined under Section 151.107(d), in the other | ||
person, including by: | ||
(i) direct ownership; | ||
(ii) common ownership; or | ||
(iii) indirect ownership through a parent | ||
entity, subsidiary, or affiliate [ |
||
(B) acquires all of its vehicles exclusively from | ||
franchised dealers whose franchisor shares common ownership with | ||
the other person; and | ||
(2) the replaced motor vehicle is offered for sale. | ||
SECTION 2. The change in law made by this Act does not | ||
affect tax liability accruing before the effective date of this | ||
Act. That liability continues in effect as if this Act had not been | ||
enacted, and the former law is continued in effect for the | ||
collection of taxes due and for civil and criminal enforcement of | ||
the liability for those taxes. | ||
SECTION 3. This Act takes effect September 1, 2015. |