Relating to the authority of the governing body of a municipality or the commissioners court of a county to enter into an ad valorem tax abatement agreement.
Impact
If enacted, SB1311 would directly impact local taxation policies by granting municipalities and counties expanded powers related to tax incentives for renewable energy projects. This could foster an environment conducive to the growth of the renewable energy sector in Texas, which may lead to increased investment and economic benefits within the specified regions. By incentivizing renewable energy development, the bill aligns with broader state and national goals regarding sustainable energy sources and climate change mitigation.
Summary
SB1311 aims to enhance the authority of county commissioners courts in Texas regarding tax abatements for property owners involved in renewable energy electric generation. The proposed legislation allows for the execution of ad valorem tax abatement agreements with lessees of taxable real property located in designated reinvestment zones. This means that counties could provide financial incentives by exempting all or part of the value of both tangible personal property and real property improvements associated with renewable energy generators from taxation.
Contention
The introduction of SB1311 may bring about discussions regarding the economic implications of tax abatements on local budgets, particularly concerning concerns from municipalities that rely heavily on property taxes for funding local services. While proponents argue that such incentives will lead to substantial economic growth and job creation, critics may contend that it exacerbates potential losses in local revenue, undermining essential services funded by property taxes. Additionally, the bill could reignite debates around the balance of local and state taxation powers.
Similar
Relating to the authority of the governing body of a municipality or the commissioners court of a county to enter into an ad valorem tax abatement agreement.
Relating to the duty of a school district to enter into an ad valorem tax abatement agreement under the Property Redevelopment and Tax Abatement Act for certain property.
Relating to the authority of the governing body of a taxing unit to adopt an exemption from ad valorem taxation of a portion, expressed as a dollar amount, of the appraised value of an individual's residence homestead.
Relating to the authority of the officer or employee designated by the governing body of a municipality to calculate certain ad valorem tax rates of the municipality to recalculate those rates.
Relating to the Harris County Flood Control District and the transfer to it of the assets, programs, and facilities of the Harris County Toll Road Authority; providing for the appointment of the governing body.
Relating to a local option exemption from ad valorem taxation by a county or municipality of all or part of the appraised value of real property used to operate a child-care facility.
Relating to a local option exemption from ad valorem taxation by a county or municipality of all or part of the appraised value of real property used to operate a child-care facility.