zxcvbob is correct, as nearly as I can tell. Here's as much as I know about the situation.
The penalty for failing to present a CHL when asked for ID was removed from the statutes after the legislature made it legal to have a concealed handgun in the vehicle without a permit.
When they legalized handgun carry in a vehicle it meant that a CHL carrier actually had to abide by a stricter code than someone with a non-CHL since a person carrying in a vehicle without a CHL had no duty to inform and, was, therefore, obviously not subject to any penalty for failing to do so.
The legislature was going to completely remove the statute but there was resistance from DPS to removing the law entirely. The compromise was to leave the law in place but remove the penalty. I guess it doesn't make really good sense, but it makes more sense than it would have if they hadn't done anything at all.