TITLE: Relating to the repeal of state sales tax and franchise tax refunds for certain ad valorem tax payers.

SUMMARY: Relating to the repeal of state sales tax and franchise tax refunds for certain ad valorem tax payers.

FULL TEXT:
AN ACT relating to the repeal of state sales tax and franchise tax refunds for certain ad valorem tax payers. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Subchapter F, Chapter 111, Tax Code, is repealed. SECTION 2. The repeal of Subchapter F, Chapter 111, Tax Code, by this Act does not affect a right to claim a refund of state sales and use and state franchise taxes that was established under Section 111.301, Tax Code, in relation to taxes paid before the effective date of this Act. A right to claim a refund of state sales and use and state franchise taxes that was established under Section 111.301, Tax Code, in relation to taxes paid before the effective date of this Act is governed by the law in effect on the date the right to claim the refund was established, and the former law is continued in effect for that purpose. SECTION 3. This Act takes effect January 1, 2012.