84R23761 SMH-F
By: Cook H.B. No. 3732
Substitute the following for H.B. No. 3732:
By: Wray C.S.H.B. No. 3732
A BILL TO BE ENTITLED
AN ACT
relating to the eligibility of property used for a large-scale
electric energy storage facility for ad valorem tax benefits under
the Texas Economic Development Act.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 313.024(b), Tax Code, is amended to read
as follows:
(b) To be eligible for a limitation on appraised value under
this subchapter, the entity must use the property for:
(1) manufacturing;
(2) research and development;
(3) a clean coal project, as defined by Section 5.001,
Water Code;
(4) an advanced clean energy project, as defined by
Section 382.003, Health and Safety Code;
(5) renewable energy electric generation;
(6) electric power generation using integrated
gasification combined cycle technology;
(7) nuclear electric power generation;
(8) a computer center primarily used in connection
with one or more activities described by Subdivisions (1) through
(7) conducted by the entity; [or]
(9) a Texas priority project; or
(10) a large-scale electric energy storage facility.
SECTION 2. Section 313.024(e), Tax Code, is amended by
adding Subdivision (8) to read as follows:
(8) "Large-scale electric energy storage facility"
means a compressed air energy storage facility that qualifies as an
electric energy storage facility within the scope of Subchapter E,
Chapter 35, Utilities Code, and:
(A) has a rated capacity of not less than 250
megawatts;
(B) is capable of being economically dispatched
by the independent organization certified under Section 39.151,
Utilities Code, for the ERCOT power region; and
(C) is capable of producing over 5,000 megawatt
hours continuously without being recharged.
SECTION 3. The changes in law made by this Act apply only to
an agreement entered into under Chapter 313, Tax Code, on or after
the effective date of this Act. An agreement entered into under
that chapter before the effective date of this Act is governed by
the law in effect on the date the agreement was entered into, and
the former law is continued in effect for that purpose.
SECTION 4. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2015.