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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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facilities that use a carbon gasification technology to generate |
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electricity. |
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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, is amended by adding |
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Subsections (y) and (z) to read as follows: |
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(y) 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 a carbon gasification technology to generate |
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that electricity. |
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(z) A taxable entity that uses a carbon gasification |
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technology to generate electricity for the entity's own use and |
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that is not a power generation company, as that term is defined by |
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Section 31.002, Utilities Code, shall exclude from its total |
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revenue, to the extent included under Subsection (c)(1)(A), |
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(c)(2)(A), or (c)(3), all revenue received from the sale of a |
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by-product, including sulfur, slag, and syngas, derived from the |
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generation of that electricity. |
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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, 2010. |