| 1 | 1 | | 88R6374 SHH-D |
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| 2 | 2 | | By: Middleton S.B. No. 433 |
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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 determination of the market value of solar energy |
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| 8 | 8 | | property for ad valorem tax purposes. |
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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. Section 23.26(d), Tax Code, is amended to read as |
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| 11 | 11 | | follows: |
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| 12 | 12 | | (d) To determine the market value of solar energy property |
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| 13 | 13 | | using the cost method of appraisal, the chief appraiser shall: |
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| 14 | 14 | | (1) use cost data obtained from generally accepted |
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| 15 | 15 | | sources; and |
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| 16 | 16 | | (2) make any appropriate adjustment for physical, |
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| 17 | 17 | | functional, or economic obsolescence and any other justifiable |
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| 18 | 18 | | factor[; and |
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| 19 | 19 | | [(3) calculate the depreciated value of the property |
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| 20 | 20 | | by using a useful life that does not exceed 10 years]. |
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| 21 | 21 | | SECTION 2. Section 23.26(e), Tax Code, is repealed. |
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| 22 | 22 | | SECTION 3. This Act applies only to an ad valorem tax year |
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| 23 | 23 | | that begins on or after the effective date of this Act. |
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| 24 | 24 | | SECTION 4. This Act takes effect January 1, 2024. |
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