Bill Text: TX SJR52 | 2011-2012 | 82nd Legislature | Introduced
Bill Title: Proposing a constitutional amendment clarifying that a tax imposed on certain business entities is not subject to Section 24, Article VIII, Texas Constitution, and imposing certain limitations on the computation of a tax imposed on a business entity.
Spectrum: Partisan Bill (Republican 1-0)
Status: (N/A - Dead) 2011-04-28 - Left pending in committee [SJR52 Detail]
Download: Texas-2011-SJR52-Introduced.html
82R22172 KLA-D | ||
By: Ogden | S.J.R. No. 52 |
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proposing a constitutional amendment clarifying that a tax imposed | ||
on certain business entities is not subject to Section 24, Article | ||
VIII, Texas Constitution, and imposing certain limitations on the | ||
computation of a tax imposed on a business entity. | ||
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 24, Article VIII, Texas Constitution, is | ||
amended by adding Subsection (k) to read as follows: | ||
(k) Notwithstanding any other provision of this section, | ||
this section does not apply to a tax imposed on a business entity | ||
that is organized under the laws of this state, another state, or a | ||
foreign nation to provide liability protection for the owners from | ||
the debts and other obligations of the business entity. | ||
SECTION 2. Article VIII, Texas Constitution, is amended by | ||
adding Section 25 to read as follows: | ||
Sec. 25. A tax imposed on a business entity may not be | ||
computed using the business entity's taxable margin, as determined | ||
under Section 171.101, Tax Code, as that section existed on January | ||
1, 2011, or a substantially similar tax base. | ||
SECTION 3. The following temporary provision is added to | ||
the Texas Constitution: | ||
TEMPORARY PROVISION. (a) This temporary provision applies | ||
to the constitutional amendment proposed by the 82nd Legislature, | ||
Regular Session, 2011, clarifying that a tax imposed on a business | ||
entity organized to provide liability protection for the owners | ||
from the debts and other obligations of the business entity is not a | ||
tax subject to Section 24, Article VIII, of this constitution and | ||
imposing certain limitations on the manner in which a tax imposed on | ||
a business entity may be computed. | ||
(b) The changes made by Section 25, Article VIII, of this | ||
constitution, as added by the amendment, apply only to a tax | ||
liability of a business entity that is originally due on or after | ||
January 1, 2014. | ||
(c) This temporary provision expires January 1, 2015. | ||
SECTION 4. This proposed constitutional amendment shall be | ||
submitted to the voters at an election to be held November 8, 2011. | ||
The ballot shall be printed to provide for voting for or against the | ||
proposition: "The constitutional amendment clarifying that a tax | ||
imposed on a business entity organized to provide liability | ||
protection for the owners from the debts and other obligations of | ||
the business entity is not subject to Section 24, Article VIII, | ||
Texas Constitution, and imposing certain limitations on the manner | ||
in which a tax imposed on a business entity may be computed." |