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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 energy-efficient |
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manufacturing infrastructure. |
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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 L-1 to read as follows: |
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SUBCHAPTER L-1. TAX CREDIT FOR ENERGY-EFFICIENT MANUFACTURING |
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INFRASTRUCTURE |
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Sec. 171.661. DEFINITION. In this subchapter, |
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"energy-efficient manufacturing infrastructure" means machinery or |
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other capital infrastructure used in an energy-efficient |
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manufacturing process to manufacture energy-efficient products. |
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Sec. 171.662. ELIGIBILITY. (a) A taxable entity is |
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eligible for a credit against the tax imposed under this chapter for |
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a period in the amount and under the conditions provided by this |
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subchapter. |
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(b) A taxable entity qualifies for a credit under this |
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subchapter for the cost of energy-efficient manufacturing |
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infrastructure if: |
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(1) the infrastructure is acquired by the taxable |
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entity for use in an energy-efficient manufacturing process to |
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manufacture energy-efficient products; and |
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(2) the infrastructure is used in this state by the |
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taxable entity. |
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(c) On the request of the comptroller, the taxable entity |
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shall file with the comptroller proof of the energy-efficient |
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nature of the manufacturing process and the products manufactured. |
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Sec. 171.663. AMOUNT. The amount of the credit under this |
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subchapter for a period is equal to the cost of energy-efficient |
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manufacturing infrastructure acquired during the period. |
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Sec. 171.664. LIMITATION. (a) A taxable entity may not |
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claim a credit for a period in an amount that exceeds the lesser of: |
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(1) the total amount of tax owed for the period; or |
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(2) the cost of the energy-efficient manufacturing |
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infrastructure, not to exceed a total of $250,000. |
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(b) A taxable entity may claim a credit under this |
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subchapter for energy-efficient manufacturing infrastructure |
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acquired during a period only against the tax owed for the period. |
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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. |