88R10150 LHC-F
By: Hefner H.B. No. 4130
A BILL TO BE ENTITLED
AN ACT
relating to the appraisal for ad valorem tax purposes of property
owned by certain electric cooperatives.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter B, Chapter 23, Tax Code, is amended by
adding Section 23.1212 to read as follows:
Sec. 23.1212. PROPERTY OWNED BY ELECTRIC COOPERATIVE;
VALUE. (a) In this section:
(1) "Electric cooperative" has the meaning assigned by
Section 11.003, Utilities Code.
(2) "Presumptive appraised value" means the value
equal to 20 percent of the net book value of taxable property on
January 1 of a tax year.
(b) An electric cooperative that owns taxable real or
personal property in more than one appraisal district may elect to
have the property appraised for a tax year as provided by this
section.
(c) To elect appraisal of property for a tax year under this
section, an electric cooperative must submit a written request not
later than the applicable deadline for filing a rendition statement
or property report under Section 22.23 to the chief appraiser of
each appraisal district for which the election is made. The request
must state the net book value on January 1 of that tax year of the
electric cooperative's taxable property in the appraisal district
for which the request is submitted as determined on the basis of the
electric cooperative's books and records.
(d) Except as provided by Subsection (e), a chief appraiser
who receives a request timely submitted under this section must
appraise the property that is the subject of the request at the
property's presumptive appraised value.
(e) A chief appraiser may increase the appraised value of an
electric cooperative's real and personal property to an amount
greater than the presumptive appraised value if the increase is
supported by clear and convincing evidence.
SECTION 2. This Act applies only to an ad valorem tax year
that begins on or after the effective date of this Act.
SECTION 3. This Act takes effect September 1, 2023.