84R6436 SMH-D
By: Campbell S.B. No. 635
A BILL TO BE ENTITLED
AN ACT
relating to the eligibility of property used in connection with
renewable energy electric generation through the use of wind power
for a limitation on appraised value of property for ad valorem tax
purposes under the Texas Economic Development Act.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 313.024, Tax Code, is amended by adding
Subsection (b-1) to read as follows:
(b-1) Property used by an entity for renewable energy
electric generation through the use of wind power is not eligible
for a limitation on appraised value under this subchapter for a tax
year if the property owner receives a federal subsidy for the use of
the property in that manner for that tax year, including a renewable
electricity production credit under Section 45, Internal Revenue
Code of 1986.
SECTION 2. The change in law made by this Act applies 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 3. This Act takes effect September 1, 2015.