On January 14, 2025, the 89th Regular Session of the Texas Legislature began. In just under one month, various Texas representatives have made a number of proposals to amend the Texas Tax Code that could have a significant impact on taxpayers’ responsibilities. A few of the more notable proposals we’ll be keeping an eye on include the following:
S.B. 1231 (Senator Brandon Creighton)
Includes a proposed franchise tax credit for taxable entities that purchase theft deterrent and property loss prevention equipment.
S.B. 1217 (Senator Bryan Hughes)
Includes proposals for sales tax exemptions and refunds for certain tangible personal property used to provide cable television services, internet access services, or telecommunications services.
S.B. 1211 (Senator Charles Perry)
Includes a proposed sales tax exemption for certain tangible personal property used in hydraulic fracturing (“fracking”).
S.B. 1097 (Senator Bryan Hughes)
Includes a proposed franchise tax credit for taxable entities that make contributions to employees’ Texas 529 plans.
S.B. 709 (Senator Sarah Eckhardt)
Includes a proposed sales tax exemption for textbooks purchased, used, or consumed by university and college students for a limited period.
S.B. 831 (Senator Tan Parker)
Includes a proposed increase to the reimbursement available for the collection and payment of sales taxes in connection with credit card transactions.
The 89th Regular Session just began, and will not end until June 2, 2025, so there will likely be more updates to come. Stay tuned.
