Texas Tax Code

§ 171.10131 — PROVISIONS RELATED TO CERTAIN MONEY RECEIVED FOR COVID-19 RELIEF

TX § 171.10131Title 2. STATE TAXATION · Part F. FRANCHISE TAX; CREDITS · Ch. 171. FRANCHISE TAX · Art. C. DETERMINATION OF TAXABLE MARGIN; ALLOCATION AND APPORTIONMENT

Statute text

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(a)In this section, "qualifying loan or grant proceeds" means the amount of money received by a taxable entity that:

(1)is:

(A)a loan or grant under the Coronavirus Aid, Relief, and Economic Security Act (15 U.S.C. Section 9001 et seq.), as amended by the Paycheck Protection Program Flexibility Act of 2020 (Pub. L. No. 116-142), the Consolidated Appropriations Act, 2021 (Pub. L. No. 116-260), the American Rescue Plan Act of 2021 (Pub. L. No. 117-2), and the PPP Extension Act of 2021 (Pub. L. No. 117-6);

(B)a shuttered venue operator grant under Section 324 of the Consolidated Appropriations Act, 2021 (Pub. L. No. 116-260), as amended by Section 5005 of the American Rescue Plan Act of 2021 (Pub. L. No. 117-2);

(C)microloan program recovery assistance under Section 329 of the Consolidated Appropriations Act, 2021 (Pub. L. No. 116-260); or

(D)a grant from the restaurant revitalization fund established under Section 5003 of the American Rescue Plan Act of 2021 (Pub. L. No. 117-2); and

…

Legislative history

Added by Acts 2021, 87th Leg., R.S., Ch. 4 (H.B. 1195), Sec. 1, eff. May 8, 2021.