TX SB524

Extends franchise tax exemptions and filing fee waivers for new veteran-owned businesses by five additional years, changing the expiration date from January 1, 2026 to January 1, 2031

Repeals provisions from S.B. 938 (87th Legislature, 2021) that were scheduled to take effect January 1, 2026, which would have ended the veteran-owned business exemption program

Maintains the definition of "new veteran-owned business" under Section 171.0005 of the Tax Code and related filing fee exemptions under Section 12.005 of the Business Organizations Code until the new 2031 deadline

Effective January 1, 2031, eliminates the special "beginning date" provisions that allowed qualifying veteran-owned businesses a five-year grace period before becoming subject to franchise tax

Takes effect September 1, 2025, with the repeal of veteran business exemptions delayed until January 1, 2031