| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 84R6436 SMH-D | |
| 2 | 2 | By: Campbell S.B. No. 635 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | A BILL TO BE ENTITLED | |
| 6 | 6 | AN ACT | |
| 7 | 7 | relating to the eligibility of property used in connection with | |
| 8 | 8 | renewable energy electric generation through the use of wind power | |
| 9 | 9 | for a limitation on appraised value of property for ad valorem tax | |
| 10 | 10 | purposes under the Texas Economic Development Act. | |
| 11 | 11 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 12 | 12 | SECTION 1. Section 313.024, Tax Code, is amended by adding | |
| 13 | 13 | Subsection (b-1) to read as follows: | |
| 14 | 14 | (b-1) Property used by an entity for renewable energy | |
| 15 | 15 | electric generation through the use of wind power is not eligible | |
| 16 | 16 | for a limitation on appraised value under this subchapter for a tax | |
| 17 | 17 | year if the property owner receives a federal subsidy for the use of | |
| 18 | 18 | the property in that manner for that tax year, including a renewable | |
| 19 | 19 | electricity production credit under Section 45, Internal Revenue | |
| 20 | 20 | Code of 1986. | |
| 21 | 21 | SECTION 2. The change in law made by this Act applies only | |
| 22 | 22 | to an agreement entered into under Chapter 313, Tax Code, on or | |
| 23 | 23 | after the effective date of this Act. An agreement entered into | |
| 24 | 24 | under that chapter before the effective date of this Act is governed | |
| 25 | 25 | by the law in effect on the date the agreement was entered into, and | |
| 26 | 26 | the former law is continued in effect for that purpose. | |
| 27 | 27 | SECTION 3. This Act takes effect September 1, 2015. |