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A BILL TO BE ENTITLED
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AN ACT
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relating to the computation of total revenue in relation to |
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electric generating facilities that use integrated gasification |
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combined cycle technology. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 171.1011, Tax Code, as effective January |
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1, 2008, is amended by adding Subsection (t) to read as follows: |
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(t) A taxable entity that is a power generation company, as |
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that term is defined by Section 31.002, Utilities Code, shall |
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exclude from its total revenue, to the extent included under |
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Subsection (c)(1)(A), (c)(2)(A), or (c)(3), all revenue received |
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from the sale of electricity generated at an electric generating |
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facility that uses integrated gasification combined cycle |
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technology. |
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SECTION 2. This Act applies only to a report originally due |
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under Chapter 171, Tax Code, on or after the effective date of this |
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Act. |
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SECTION 3. This Act takes effect January 1, 2008. |