Bill Text: TX HB2344 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Relating to a franchise tax credit for a taxable entity that assists an employee in obtaining a high school diploma or high school equivalency certificate.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2023-03-09 - Referred to Ways & Means [HB2344 Detail]
Download: Texas-2023-HB2344-Introduced.html
| 88R4267 CJD-D | ||
| By: Guillen | H.B. No. 2344 | |
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| relating to a franchise tax credit for a taxable entity that assists | ||
| an employee in obtaining a high school diploma or high school | ||
| equivalency certificate. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Chapter 171, Tax Code, is amended by adding | ||
| Subchapter K to read as follows: | ||
| SUBCHAPTER K. TAX CREDIT FOR ASSISTING EMPLOYEES IN OBTAINING HIGH | ||
| SCHOOL DIPLOMA OR EQUIVALENCY CERTIFICATE | ||
| Sec. 171.551. ENTITLEMENT TO CREDIT. A taxable entity is | ||
| entitled to a credit in the amount and under the conditions provided | ||
| by this subchapter against the tax imposed under this chapter. | ||
| Sec. 171.552. QUALIFICATION. A taxable entity qualifies | ||
| for a credit under this subchapter if the taxable entity helps at | ||
| least one of the entity's employees obtain a high school diploma or | ||
| high school equivalency certificate during the period for which the | ||
| report on which the credit is claimed is based. | ||
| Sec. 171.553. AMOUNT OF CREDIT; LIMITATION. (a) Subject to | ||
| Subsection (b), the amount of the credit for a report is the lesser | ||
| of: | ||
| (1) $2,000; or | ||
| (2) two percent of the amount of franchise tax due for | ||
| the report before the application of any other applicable credits. | ||
| (b) The total credit claimed on a report may not exceed the | ||
| amount of franchise tax due for the report after application of any | ||
| other applicable credits. | ||
| Sec. 171.554. APPLICATION FOR CREDIT. (a) A taxable entity | ||
| must apply for a credit under this subchapter on or with the report | ||
| for the period for which the credit is claimed. | ||
| (b) The comptroller shall promulgate a form for the | ||
| application for the credit. A taxable entity must use the form in | ||
| applying for the credit. | ||
| (c) The comptroller may require a taxable entity to submit | ||
| with an application any information the comptroller determines is | ||
| necessary to determine whether the taxable entity qualifies for the | ||
| credit under Section 171.552. | ||
| Sec. 171.555. RULES. The comptroller shall adopt rules | ||
| necessary to implement and administer this subchapter. | ||
| SECTION 2. Subchapter K, Chapter 171, Tax Code, as added by | ||
| this Act, applies only to a report originally due on or after | ||
| January 1, 2024. | ||
| SECTION 3. This Act takes effect January 1, 2024. | ||
