| 1 | 1 | | 88R10150 LHC-F |
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| 2 | 2 | | By: Hefner H.B. No. 4130 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to the appraisal for ad valorem tax purposes of property |
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| 8 | 8 | | owned by certain electric cooperatives. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Subchapter B, Chapter 23, Tax Code, is amended by |
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| 11 | 11 | | adding Section 23.1212 to read as follows: |
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| 12 | 12 | | Sec. 23.1212. PROPERTY OWNED BY ELECTRIC COOPERATIVE; |
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| 13 | 13 | | VALUE. (a) In this section: |
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| 14 | 14 | | (1) "Electric cooperative" has the meaning assigned by |
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| 15 | 15 | | Section 11.003, Utilities Code. |
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| 16 | 16 | | (2) "Presumptive appraised value" means the value |
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| 17 | 17 | | equal to 20 percent of the net book value of taxable property on |
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| 18 | 18 | | January 1 of a tax year. |
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| 19 | 19 | | (b) An electric cooperative that owns taxable real or |
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| 20 | 20 | | personal property in more than one appraisal district may elect to |
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| 21 | 21 | | have the property appraised for a tax year as provided by this |
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| 22 | 22 | | section. |
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| 23 | 23 | | (c) To elect appraisal of property for a tax year under this |
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| 24 | 24 | | section, an electric cooperative must submit a written request not |
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| 25 | 25 | | later than the applicable deadline for filing a rendition statement |
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| 26 | 26 | | or property report under Section 22.23 to the chief appraiser of |
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| 27 | 27 | | each appraisal district for which the election is made. The request |
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| 28 | 28 | | must state the net book value on January 1 of that tax year of the |
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| 29 | 29 | | electric cooperative's taxable property in the appraisal district |
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| 30 | 30 | | for which the request is submitted as determined on the basis of the |
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| 31 | 31 | | electric cooperative's books and records. |
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| 32 | 32 | | (d) Except as provided by Subsection (e), a chief appraiser |
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| 33 | 33 | | who receives a request timely submitted under this section must |
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| 34 | 34 | | appraise the property that is the subject of the request at the |
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| 35 | 35 | | property's presumptive appraised value. |
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| 36 | 36 | | (e) A chief appraiser may increase the appraised value of an |
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| 37 | 37 | | electric cooperative's real and personal property to an amount |
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| 38 | 38 | | greater than the presumptive appraised value if the increase is |
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| 39 | 39 | | supported by clear and convincing evidence. |
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| 40 | 40 | | SECTION 2. This Act applies only to an ad valorem tax year |
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| 41 | 41 | | that begins on or after the effective date of this Act. |
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| 42 | 42 | | SECTION 3. This Act takes effect September 1, 2023. |
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