TX SB1231

Creates a new franchise tax credit for taxable entities that purchase theft deterrent or property loss prevention equipment from a comptroller-approved list of eligible items

Credit amount equals the total costs and expenses incurred to purchase qualifying equipment, including the purchase price, but cannot exceed the franchise tax due after other credits are applied

Unused credit amounts may be carried forward for up to five consecutive reporting periods

Credit cannot be transferred to another entity unless substantially all assets of the original entity are also transferred in the same transaction

Takes effect January 1, 2026, and applies to reports originally due on or after that date