Texas § TX.151.348 - COOPERATIVE RESEARCH AND DEVELOPMENT VENTURES
Full text of Texas The Texas Constitution § TX.151.348 — COOPERATIVE RESEARCH AND DEVELOPMENT VENTURES, with citation guidance and answers to common questions.
§ TX.151.348. COOPERATIVE RESEARCH AND DEVELOPMENT VENTURES
COOPERATIVE RESEARCH AND DEVELOPMENT VENTURES. (a) There are exempted from the taxes imposed by this chapter items sold in connection with a joint research and development venture as defined by 15 U.S.C. Section 4301 that are sold by the joint research and development venture to a participating entity, if the items are created, developed, or substantially modified by or for the joint research and development venture, including items developed as a result of research and/or development agreements entered into by the joint research and development venture with third parties. (b) There are exempted from the taxes imposed by this chapter items purchased by, and to carry out the purpose of, a joint research and development venture, as defined by 15 U.S.C. Section 4301, notice of whose establishment and participants was first published in the Federal Register on January 17, 1985, or May 19, 1988, if the items have a useful life in excess of six months when placed in service by the joint research and development venture. Added by Acts 1987, 70th Leg., 2nd C.S., ch. 5, art. 1, pt. 4,
Frequently Asked Questions About Texas § TX.151.348
What does The Texas Constitution § TX.151.348 cover?
Section TX.151.348 ("COOPERATIVE RESEARCH AND DEVELOPMENT VENTURES") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § TX.151.348?
A common citation format is "The Texas Constitution § TX.151.348" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § TX.151.348 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.