SB 1231 establishes a franchise tax credit for taxable entities that purchase theft deterrent and property loss prevention equipment. The bill allows qualifying businesses to claim a tax credit equal to the total cost of eligible equipment purchases made during the taxable period. The credit cannot exceed the total franchise tax due after applying all other credits, but any unused credit may be carried forward for up to five years. Businesses must apply for the credit using forms prescribed by the comptroller, who is also responsible for developing a list of eligible equipment. The bill prohibits businesses from transferring or assigning the credit unless they transfer substantially all of their assets in the same transaction. The tax credit applies to franchise tax reports originally due on or after the bill's effective date of January 1, 2026.