SB1058

Signed by Governor
Authored by Tan Parker (R)
View at Source

Caption: Relating to the exclusion of certain securities transaction payments from the total revenue of a taxable entity that is an exchange or a member of an exchange for purposes of the franchise tax.
Initially Referred to Senate Business & Commerce Committee, chaired by a Republican
Last Referred to House Ways & Means Committee, chaired by a Republican
SB 1058 amends the Texas franchise tax code to allow certain securities transaction payments to be excluded from a taxable entity's total revenue. Specifically, it excludes transaction rebate payments made by an exchange to a member or vice versa as part of securities transactions. The bill defines "exchange," "member," and "securities transaction" by referencing federal securities laws, ensuring consistency with national financial regulations. This exclusion applies only to franchise tax reports due on or after January 1, 2026.

Co-authors: Blanco (D); West (D)
Sponsors: Capriglione (R)

Feb 3, 2025


(S) Parker signed onto the bill as Author
(S) Received by the Secretary of the Senate
(S) Filed
 

Feb 24, 2025


(S) Read first time
(S) Referred to the Senate Business & Commerce, chaired by a Republican
 

Mar 18, 2025


(S) Scheduled for public hearing on . . .
(S) Considered in public hearing
(S) Testimony taken in committee
(S) Left pending in committee
 

Mar 27, 2025


(S) Considered in public hearing
(S) Vote taken in committee
 

Mar 31, 2025


(S) Reported favorably as substituted
(S) Recommended for local & uncontested calendar
(S) Committee report printed and distributed
 

Apr 1, 2025


(S) Blanco signed onto the bill as Coauthor
(S) Co-author authorized
 

Apr 10, 2025


(S) West signed onto the bill as Coauthor
(S) Co-author authorized
(S) Placed on local & uncontested calendar
(S) Laid before the Senate
(S) Read 2nd time & passed to engrossment
(S) Vote recorded in Journal
(S) Three day rule suspended
(S) Record vote
(S) Read 3rd time
(S) Passed
(S) Record vote
(S) Reported engrossed
 

Apr 14, 2025


(H) Received from the Senate
 

Apr 17, 2025


(H) Read first time
(H) Referred to the House Ways & Means, chaired by a Republican
 

Apr 23, 2025


(H) Considered in formal meeting
(H) Reported favorably w/o amendment(s)
 

Apr 25, 2025


(H) Comte report filed with Committee Coordinator
(H) Committee report distributed
 

Apr 28, 2025


(H) Committee report sent to Calendars
(H) Laid out in lieu of companion
(H) Read 2nd time
(H) Passed to 3rd reading
(H) Record vote

RV#591: Yea 131 (R 84, D 47) - Nay 13 (R 1, D 12)
View Source

Yea - Alders; Allen; Anchia; Ashby; Barry; Bell, C.; Bell, K.; Bernal; Bhojani; Bonnen; Bowers; Buckley; Bucy; Bumgarner; Button; Cain; Campos; Capriglione; Cole; Collier; Cook; Cortez; Craddick; Cunningham; Curry; Darby; Davis, Y.; Dean; DeAyala; Dorazio; Dutton; Dyson; Fairly; Flores; Frank; Gamez; Garcia Hernandez; Garcia, J.; Garcia, L.; Gates; Gerdes; Geren; Guerra; Guillen; Harless; Harris; Harris Davila; Harrison; Hayes; Hefner; Hernandez; Hickland; Hinojosa; Holt; Hopper; Howard; Hull; Hunter; Jones, V.; Kerwin; King; Kitzman; LaHood; Lalani; Lambert; Landgraf; Leach; Leo Wilson; Longoria; Lopez, J.; Lopez, R.; Louderback; Lowe; Lozano; Lujan; Luther; Martinez; Martinez Fischer; McLaughlin; McQueeney; Metcalf; Meyer; Money; Moody; Morales, E.; Morales Shaw; Morgan; Munoz; Noble; Olcott; Ordaz; Orr; Patterson; Paul; Perez, M.; Perez, V.; Phelan; Pierson; Plesa; Raymond; Richardson; Romero; Rose; Rosenthal; Schatzline; Schofield; Schoolcraft; Shaheen; Shofner; Simmons; Slawson; Smithee; Spiller; Swanson; Talarico; Tepper; Thompson; Tinderholt; Toth; Troxclair; Turner; VanDeaver; Vasut; Villalobos; Virdell; Vo; Walle; Ward Johnson; Wharton; Wilson; Wu

Nay - Bryant; Canales; Gonzalez, J.; Goodwin; Johnson; Jones, J.; Little; Manuel; Meza; Morales, C.; Reynolds; Rodriguez Ramos; Zwiener

Absent - Gervin-Hawkins; Isaac

Present, Not Voting - Burrows

Please note: the following statements by legislators do not affect the vote count that was recorded.

Barbara Gervin-Hawkins: "When Record No. 591 was taken, I was in the house but away from my desk. I would have voted yes." (view other statements of vote for this Rep)

Carrie Isaac: "When Record No. 591 was taken, my vote failed to register. I would have voted yes." (view other statements of vote for this Rep)

You can view which lawmakers have received money from a specific PAC
by selecting the PAC from the list below:


 

Apr 29, 2025


(H) Read 3rd time
(H) Passed
(H) Record vote

RV#784: Yea 137 (R 86, D 51) - Nay 9 (R 0, D 9)
View Source

Yea - Alders; Allen; Anchia; Ashby; Barry; Bell, C.; Bell, K.; Bernal; Bhojani; Bonnen; Buckley; Bucy; Bumgarner; Button; Cain; Campos; Canales; Capriglione; Cole; Collier; Cook; Cortez; Craddick; Cunningham; Curry; Darby; Davis, A.; Davis, Y.; Dean; DeAyala; Dorazio; Dutton; Dyson; Fairly; Flores; Frank; Gamez; Garcia Hernandez; Garcia, J.; Garcia, L.; Gates; Gerdes; Geren; Gervin-Hawkins; Gonzalez, M.; Guerra; Guillen; Harless; Harris; Harris Davila; Harrison; Hayes; Hefner; Hernandez; Hickland; Holt; Hopper; Howard; Hull; Hunter; Isaac; Johnson; Jones, J.; Jones, V.; Kerwin; King; Kitzman; LaHood; Lalani; Lambert; Leach; Leo Wilson; Little; Longoria; Lopez, J.; Lopez, R.; Louderback; Lowe; Lozano; Lujan; Luther; Manuel; Martinez; Martinez Fischer; McLaughlin; McQueeney; Metcalf; Meyer; Money; Moody; Morales, E.; Morales Shaw; Morgan; Munoz; Noble; Olcott; Oliverson; Ordaz; Orr; Patterson; Paul; Perez, V.; Phelan; Pierson; Plesa; Raymond; Richardson; Romero; Rose; Rosenthal; Schatzline; Schofield; Schoolcraft; Shaheen; Shofner; Simmons; Slawson; Smithee; Spiller; Swanson; Talarico; Tepper; Thompson; Tinderholt; Toth; Troxclair; Turner; VanDeaver; Vasut; Villalobos; Virdell; Vo; Ward Johnson; Wharton; Wilson; Wu; Zwiener

Nay - Bowers; Bryant; Gonzalez, J.; Goodwin; Hinojosa; Meza; Morales, C.; Reynolds; Rodriguez Ramos

Present, Not Voting - Burrows; Landgraf

Please note: the following statements by legislators do not affect the vote count that was recorded.

Erin Zwiener: "When Record No. 784 was taken, I was shown voting yes. I intended to vote no." (view other statements of vote for this Rep)

You can view which lawmakers have received money from a specific PAC
by selecting the PAC from the list below:


(H) Statement(s) of vote recorded in Journal
(S) House passage reported
(S) Reported enrolled
 

Apr 30, 2025


(S) Signed in the Senate
 

May 1, 2025


(H) Signed in the House
(E) Sent to the Governor
 

May 13, 2025


(E) Signed by the Governor
(E) Effective on . . . . . . . . . . . . . . .
 


(S) Capriglione signed onto the bill as Sponsor

Lobbying Against/For/On This Bill

For

(Tue 3/18/2025) Testifying before S Business & Commerce as Bill Lauderback for Texas Stock Exchange
(Tue 3/18/2025) Registering before S Business & Commerce as Daniel Hodge for Texas Stock Exchange
(Tue 3/18/2025) Registering before S Business & Commerce as Isaac Faz for self (with Starbucks)
 

On

(Tue 3/18/2025) Testifying before S Business & Commerce as Nicholas Souza for Texas Comptroller of Public Accounts



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