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A BILL TO BE ENTITLED
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AN ACT
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relating to a franchise tax credit for building new single-family |
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homes or duplexes that exceed certain energy efficiency standards. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 171, Tax Code, is amended by adding |
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Subchapter V to read as follows: |
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SUBCHAPTER V. TAX CREDIT FOR CERTAIN ENERGY-EFFICIENT HOMEBUILDING |
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Sec. 171.901. DEFINITIONS. In this subchapter: |
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(1) "Homebuilder" means any person who, for a fixed |
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price, commission, fee, wage, or other compensation, sells, |
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constructs, or supervises or manages the construction of, or |
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contracts for the construction of or the supervision or management |
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of the construction of a new single-family home or duplex. |
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(2) "State energy code" means the state energy code |
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adopted under Section 388.003, Health and Safety Code. |
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Sec. 171.902. ENTITLEMENT TO CREDIT. A taxable entity is |
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entitled to a credit in the amount and under the conditions and |
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limitations provided by this subchapter against the tax imposed |
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under this chapter. |
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Sec. 171.903. QUALIFICATION. A taxable entity qualifies |
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for a credit under this subchapter if the taxable entity is a |
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homebuilder and builds a new single-family home or duplex in this |
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state the energy efficiency of which exceeds the energy efficiency |
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standards prescribed by the state energy code. |
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Sec. 171.904. AMOUNT; LIMITATIONS. (a) The amount of the |
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credit is equal to: |
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(1) $10,000 for each new single-family home or duplex |
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the energy efficiency of which exceeds the energy efficiency |
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standards prescribed by the state energy code by at least 15 percent |
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but less than 20 percent; |
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(2) $15,000 for each new single-family home or duplex |
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the energy efficiency of which exceeds the energy efficiency |
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standards prescribed by the state energy code by at least 20 percent |
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but less than 25 percent; |
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(3) $20,000 for each new single-family home or duplex |
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the energy efficiency of which exceeds the energy efficiency |
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standards prescribed by the state energy code by at least 25 percent |
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but less than 30 percent; and |
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(4) $25,000 for each new single-family home or duplex |
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the energy efficiency of which exceeds the energy efficiency |
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standards prescribed by the state energy code by at least 30 |
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percent. |
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(b) The credit claimed for each reporting period may not |
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exceed the amount of franchise tax due, before any other applicable |
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tax credits, for the period. |
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(c) A taxable entity may claim a credit under this |
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subchapter relating to a new single-family home or duplex only on |
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the report based on the reporting period during which construction |
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of the new home or duplex was completed. |
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(d) A taxable entity may not carry over a credit amount for |
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construction completed during a reporting period to a subsequent |
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period. |
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(e) A taxable entity may not convey, assign, or transfer a |
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credit under this subchapter to another entity unless all of the |
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assets of the taxable entity are conveyed, assigned, or transferred |
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in the same transaction. |
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Sec. 171.905. APPLICATION FOR CREDIT. A taxable entity |
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must apply for a credit under this subchapter on or with the tax |
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report for the period for which the credit is claimed. The taxable |
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entity shall file with the report a certification from the self |
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certification program of the Energy Systems Laboratory at the Texas |
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Engineering Experiment Station of The Texas A&M University System |
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of the energy efficiency of each new single-family home or duplex |
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for which the taxable entity is claiming a credit under this |
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subchapter. |
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Sec. 171.906. RULES. The comptroller shall adopt rules |
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necessary to implement this subchapter. |
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SECTION 2. This Act applies only to a report originally due |
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on or after the effective date of this Act. |
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SECTION 3. This Act takes effect January 1, 2010. |