The Laws of Texas, 1929-1931 [Volume 27] Page: 187 of 1,943
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FORTY-FIRST LEGISLATURE--FIFTH CALLED SESSION. 175
income to our State and its citizens from this source, and so our
general income is reduced. The low prices of crude oil means
a less sum in royalties to the University of Texas and the public
school fund from oil producing properties belonging to these
two branches of our State Government. In addition to this,
when the price of crude oil is low the State receives less money
from the production tax on this resource, and the loss in State
resources thereby are made up from other sources and these
are less able to pay than those who save on the gross production
tax by reason of the low price of crude oil. In addition to this
the independent oil producers say that present conditions and
prices tend to destroy them and place the oil industry in the
hands of monopoly. A monopoly in the oil business of this State
would be injurious to the general public.
I cannot foretell the results of this bill. It was intended to
prevent a monopoly and to improve present distressing conditions.
It was so represented to the Legislature and it has been
so represented to me. Some independent oil operators have opposed
it, but the overwhelming majority of oil men who are not
connected with any major company are strong in their support
of the bill. These men are opposed to any monopoly or trust
in oil and, as I say, the majority of them favor the bill. I feel
that in a large measure monopoly and trusts are responsible
for the losses our State is now sustaining in what is being produced
from its oil resources. I am opposed to these trust
tendencies. The bill may not work any good, but I have not
been shown where it will work any harm. Hoping that the bill
will be a help to our State and citizenship generally I have
determined to let it become a law.
DAN MOODY.
GROSS RECEIPTS TAX ON TEXT-BOOK COMPANIES.
H. B. No. 41.] CHAPTER 37.
An Act imposing a gross receipt tax upon certain individuals, companies,
corporations or associations, whether incorporated under the laws of
this State or Nation, engaged in publishing, printing or selling textbooks
as used or will be used in the schools of this State, or owning.
controlling or managing any such business within the State or out of
it, and having State agencies within this State for the purpose of selling
any such books to be used in any of the schools of this State, requiring
quarterly reports each year under oath of the individual, president
or treasurer of such company, corporation or association, showing
gross amount received from any such business done within this State
during the quarter next preceding; and declaring an emergency.
Be it enacted by the Legislature of the State of Texas:
SECTION 1. Each individual, company, corporation or association,
whether incorporated under the laws of this State, or of
any other State or Nation, engaged in publishing, printing and
selling such text-books as are used, or will be used, in the schools
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Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1929-1931 [Volume 27], book, 1931; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth16362/m1/187/: accessed April 26, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; .