BILL ANALYSIS
Senate Research Center S.B. 504
AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
Property tax exemptions are provided for many classes and uses of property, such as solar and wind-powered energy devices. Having those devices on the property entitles a person to a tax exemption for the amount of the appraised value that arises from that device. Such exemptions currently require an annual application.
As proposed, S.B. 504 provides for owners of homesteads with solar or wind-powered devices to make only one application for this exemption as they do the homestead exemption, unless the appraisal district of that homestead requests another application to confirm the exemption.
RULEMAKING AUTHORITY
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Section 11.27, Tax Code, by adding Subsection (a-1), as follows:
(a-1) Provides that property upon which a solar or wind-powered energy device is installed or constructed and that qualifies for an exemption under Section 11.27 (Solar and Wind Powered Energy Devices), Tax Code (renewable energy exemption), and that qualifies for a residence homestead exemption under Section 11.13 (Residence Homestead), Tax Code, maintains the renewable energy exemption for subsequent years without requiring the property owner to reapply for that exemption, as provided by Section 11.43(c), Tax Code.
SECTION 2. Makes application of this Act prospective to an ad valorem tax year that begins on or after the effective date of this Act.
SECTION 3. Effective date: January 1, 2008.