Texas 2021 - 87th Regular

Texas Senate Bill SB1993 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	87R12485 SRA-D
2	2	By: Hughes S.B. No. 1993
3	3
4	4
5	5	A BILL TO BE ENTITLED
6	6	AN ACT
7	7	relating to imposing a tax on the value of tax preferences received
8	8	by wind and solar electric generators.
9	9	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	10	SECTION 1. Subtitle E, Title 2, Tax Code, is amended by
11	11	adding Chapter 164 to read as follows:
12	12	CHAPTER 164. TAX ON VALUE OF TAX PREFERENCES RECEIVED BY WIND AND
13	13	SOLAR ELECTRIC GENERATORS
14	14	SUBCHAPTER A. GENERAL PROVISIONS
15	15	Sec. 164.001. DEFINITIONS. In this chapter:
16	16	(1) "Affiliated power generation company," "electric
17	17	utility," and "exempt wholesale generator" have the meanings
18	18	assigned by Section 31.002, Utilities Code.
19	19	(2) "Electric cooperative" has the meaning assigned by
20	20	Section 11.003, Utilities Code.
21	21	(3) "Electric generator" includes:
22	22	(A) an affiliated power generation company;
23	23	(B) an electric utility or electric cooperative
24	24	that owns or operates for compensation in this state equipment or
25	25	facilities to generate electricity in this state;
26	26	(C) an exempt wholesale generator; and
27	27	(D) a power generation company.
28	28	(4) "Power generation company" has the meaning
29	29	assigned by Section 31.002, Utilities Code, except that the term
30	30	does not include a distributed natural gas generation facility, as
31	31	that term is defined by Section 31.002, Utilities Code.
32	32	(5) "Renewable energy tax preference" means a credit,
33	33	discount, exclusion, exemption, refund, special valuation, special
34	34	accounting treatment, special rate, or special method of reporting
35	35	authorized by state law that relates to a state or local tax imposed
36	36	in this state on electric generators and that is granted in
37	37	connection with the generation of electricity using wind or solar
38	38	energy, including:
39	39	(A) a tax abatement under Chapter 312; and
40	40	(B) a limitation on appraised value of property
41	41	under Chapter 313.
42	42	SUBCHAPTER B. IMPOSITION AND COLLECTION OF TAX
43	43	Sec. 164.021. TAX IMPOSED. A tax is imposed on each
44	44	electric generator in this state that receives a renewable energy
45	45	tax preference.
46	46	Sec. 164.022. AMOUNT OF TAX. The amount of the tax is equal
47	47	to 90 percent of the value of all renewable energy tax preferences
48	48	an electric generator receives in a calendar year.
49	49	Sec. 164.023. REPORT AND PAYMENT OF TAX. (a) Not later
50	50	than April 15 of each year, an electric generator on whom the tax is
51	51	imposed shall file with the comptroller a report:
52	52	(1) stating the total value of renewable energy tax
53	53	preferences the electric generator received in the preceding
54	54	calendar year; and
55	55	(2) including any other information required by the
56	56	comptroller.
57	57	(b) The electric generator shall send the amount of tax due
58	58	for the preceding calendar year to the comptroller with the report.
59	59	Sec. 164.024. RECORDS. An electric generator on whom the
60	60	tax is imposed shall keep a complete record of:
61	61	(1) each renewable energy tax preference the electric
62	62	generator receives, including the value of the preference; and
63	63	(2) any other information required by the comptroller.
64	64	SUBCHAPTER C. DISPOSITION OF PROCEEDS
65	65	Sec. 164.051. DISPOSITION AND USE OF PROCEEDS. The
66	66	comptroller shall deposit the proceeds from the tax as follows:
67	67	(1) 25 percent to the credit of the foundation school
68	68	fund; and
69	69	(2) the remainder to the credit of an account in the
70	70	general revenue fund administered by the Public Utility Commission
71	71	of Texas, which may be appropriated to the commission only for the
72	72	purpose of awarding grants or loans for innovation in electric
73	73	generation.
74	74	SECTION 2. This Act takes effect September 1, 2021.