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TX SB263
Bill
Status
Passed
6/20/2025
Primary Sponsor
Charles Perry
Click for details
AI Summary
- Amends Section 171.1012(o) of the Tax Code to explicitly include television and radio broadcasting as separate categories eligible for cost of goods sold deductions under the Texas franchise tax
- Defines "television or radio broadcasting" as broadcasting under an FCC license regulated under 47 C.F.R. Part 73 or 74, limiting the provision to licensed broadcasters
- Allows eligible broadcasters to include depreciation, amortization, and expenses related to acquiring, producing, or using property—including broadcast rights—in their cost of goods sold calculations
- Declares the amendment is a clarification of existing law, not a change, meaning prior interpretations should align with the amended statute
- Takes effect immediately with two-thirds legislative approval, otherwise September 1, 2025; passed Senate 30-0 on March 13, 2025 and House 132-7 on May 23, 2025
Legislative Description
Relating to the computation of the cost of goods sold by television and radio broadcasters for purposes of the franchise tax.
Taxation
Last Action
Effective immediately
6/20/2025
Committee Referrals
Ways & Means4/22/2025
Finance2/3/2025
Full Bill Text
No bill text available