| 1 | 1 | | 88R10150 LHC-F |
|---|
| 2 | 2 | | By: King S.B. No. 1771 |
|---|
| 3 | 3 | | |
|---|
| 4 | 4 | | |
|---|
| 5 | 5 | | A BILL TO BE ENTITLED |
|---|
| 6 | 6 | | AN ACT |
|---|
| 7 | 7 | | relating to the appraisal for ad valorem tax purposes of property |
|---|
| 8 | 8 | | owned by certain electric cooperatives. |
|---|
| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|---|
| 10 | 10 | | SECTION 1. Subchapter B, Chapter 23, Tax Code, is amended by |
|---|
| 11 | 11 | | adding Section 23.1212 to read as follows: |
|---|
| 12 | 12 | | Sec. 23.1212. PROPERTY OWNED BY ELECTRIC COOPERATIVE; |
|---|
| 13 | 13 | | VALUE. (a) In this section: |
|---|
| 14 | 14 | | (1) "Electric cooperative" has the meaning assigned by |
|---|
| 15 | 15 | | Section 11.003, Utilities Code. |
|---|
| 16 | 16 | | (2) "Presumptive appraised value" means the value |
|---|
| 17 | 17 | | equal to 20 percent of the net book value of taxable property on |
|---|
| 18 | 18 | | January 1 of a tax year. |
|---|
| 19 | 19 | | (b) An electric cooperative that owns taxable real or |
|---|
| 20 | 20 | | personal property in more than one appraisal district may elect to |
|---|
| 21 | 21 | | have the property appraised for a tax year as provided by this |
|---|
| 22 | 22 | | section. |
|---|
| 23 | 23 | | (c) To elect appraisal of property for a tax year under this |
|---|
| 24 | 24 | | section, an electric cooperative must submit a written request not |
|---|
| 25 | 25 | | later than the applicable deadline for filing a rendition statement |
|---|
| 26 | 26 | | or property report under Section 22.23 to the chief appraiser of |
|---|
| 27 | 27 | | each appraisal district for which the election is made. The request |
|---|
| 28 | 28 | | must state the net book value on January 1 of that tax year of the |
|---|
| 29 | 29 | | electric cooperative's taxable property in the appraisal district |
|---|
| 30 | 30 | | for which the request is submitted as determined on the basis of the |
|---|
| 31 | 31 | | electric cooperative's books and records. |
|---|
| 32 | 32 | | (d) Except as provided by Subsection (e), a chief appraiser |
|---|
| 33 | 33 | | who receives a request timely submitted under this section must |
|---|
| 34 | 34 | | appraise the property that is the subject of the request at the |
|---|
| 35 | 35 | | property's presumptive appraised value. |
|---|
| 36 | 36 | | (e) A chief appraiser may increase the appraised value of an |
|---|
| 37 | 37 | | electric cooperative's real and personal property to an amount |
|---|
| 38 | 38 | | greater than the presumptive appraised value if the increase is |
|---|
| 39 | 39 | | supported by clear and convincing evidence. |
|---|
| 40 | 40 | | SECTION 2. This Act applies only to an ad valorem tax year |
|---|
| 41 | 41 | | that begins on or after the effective date of this Act. |
|---|
| 42 | 42 | | SECTION 3. This Act takes effect September 1, 2023. |
|---|