Bill Text: TX SB1614 | 2023-2024 | 88th Legislature | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Relating to the computation of the cost of goods sold by television and radio broadcasters for purposes of the franchise tax.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Vetoed) 2023-06-18 - Vetoed by the Governor [SB1614 Detail]

Download: Texas-2023-SB1614-Introduced.html

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88R13370 SRA-F
By: Perry S.B. No. 1614

A BILL TO BE ENTITLED
AN ACT
relating to the computation of the cost of goods sold by television
and radio broadcasters for purposes of the franchise tax.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 171.1012(o), Tax Code, is amended to
read as follows:
(o) If a taxable entity, including a taxable entity with
respect to which cost of goods sold is determined pursuant to
Section 171.1014(e)(1), whose principal business activity is film
or television production, television or radio broadcasting, or the
distribution of tangible personal property described by Subsection
(a)(3)(A)(ii), or any combination of these activities, elects to
subtract cost of goods sold, the cost of goods sold for the taxable
entity shall be the costs described in this section in relation to
the property and include depreciation, amortization, and other
expenses directly related to the acquisition, production, or use of
the property, including expenses for the right to broadcast or use
the property.
SECTION 2. The amendment made by this Act is a clarification
of existing law and does not imply that existing law may be
construed as inconsistent with the law as amended by this Act.
SECTION 3. 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, 2023.