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A BILL TO BE ENTITLED
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AN ACT
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relating to the appraisal for ad valorem tax purposes of property |
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owned by certain electric cooperatives. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter B, Chapter 23, Tax Code, is amended by |
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adding Section 23.1212 to read as follows: |
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Sec. 23.1212. PROPERTY OWNED BY ELECTRIC COOPERATIVE; |
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VALUE. (a) In this section: |
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(1) "Electric cooperative" has the meaning assigned by |
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Section 11.003, Utilities Code. |
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(2) "Presumptive appraised value" means the value |
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equal to 20 percent of the net book value of taxable property on |
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January 1 of a tax year. |
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(b) An electric cooperative that owns taxable real or |
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personal property in more than one appraisal district may elect to |
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have the property appraised for a tax year as provided by this |
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section. |
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(c) To elect appraisal of property for a tax year under this |
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section, an electric cooperative must submit a written request not |
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later than the applicable deadline for filing a rendition statement |
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or property report under Section 22.23 to the chief appraiser of |
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each appraisal district for which the election is made. The request |
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must state the net book value on January 1 of that tax year of the |
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electric cooperative's taxable property in the appraisal district |
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for which the request is submitted as determined on the basis of the |
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electric cooperative's books and records. |
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(d) Except as provided by Subsection (e), a chief appraiser |
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who receives a request timely submitted under this section must |
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appraise the property that is the subject of the request at the |
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property's presumptive appraised value. |
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(e) A chief appraiser may increase the appraised value of an |
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electric cooperative's real and personal property to an amount |
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greater than the presumptive appraised value if the increase is |
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supported by clear and convincing evidence. |
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SECTION 2. This Act applies only to an ad valorem tax year |
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that begins on or after the effective date of this Act. |
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SECTION 3. This Act takes effect September 1, 2023. |