Governor's Message to the 56th legislature. Page: 26 of 41
The following text was automatically extracted from the image on this page using optical character recognition software:
PROGRAM FOR RETIRING DEFICIT BY AUGUST 31,
Law requiring Comptroller to credit General
Fund with balance remaining in Omnibus Tax
Clearance Fund on last day of each fiscal year.
(Such funds will be subject to use, if necessary,
in supplementing Clearance Fund allocations
on first day of the succeeding fiscal year)
Conservator Act on money and accounts
abandoned for more than 7 years
From present Corporation Franchise Tax due
May 1, if new 3 factor formula for inter-state
corporations is enacted before May 1, 1959
(See Tax Study Commission Report No. 5, p. 15;
Final Report, p. c-113)
Increase for one year, effective May 1, 1959,
in Franchise Tax rate, . 60 per $1,000.
(Increase present rate from $2. 25 to $2. 85)
Comptroller's estimated deficit 9-1-59
(Comptroller's Biennial Estimate Jan. 2, 1959, p. 26)
Available for other purposes
To accomplish above purposes,
program must be effective not
later than May 1, 1959; and Franchise
Tax amendment should be effective
by March 15, 1959, for reporting and
Here’s what’s next.
This book can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Book.
Price, Daniel. Governor's Message to the 56th legislature., book, January 21, 1959; Austin, Texas. (texashistory.unt.edu/ark:/67531/metapth5870/m1/26/: accessed September 22, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; .