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A BILL TO BE ENTITLED
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AN ACT
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relating to a franchise tax deduction for the cost of certain |
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sustainable commercial buildings. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter C, Chapter 171, Tax Code, is amended |
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by adding Section 171.1075 to read as follows: |
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Sec. 171.1075. DEDUCTION OF COST OF SUSTAINABLE BUILDING |
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FROM MARGIN APPORTIONED TO THIS STATE. (a) In this section, |
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"energy office" means the State Energy Conservation Office. |
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(b) A taxable entity may deduct from its apportioned margin |
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10 percent of the amortized cost of a commercial building if: |
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(1) the building is a sustainable building certified |
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by the energy office under Subsection (e); |
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(2) the building is constructed by the taxable entity; |
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(3) the building is located in this state; and |
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(4) the cost of the building is amortized in |
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accordance with Subsection (c). |
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(c) The amortization of the cost of a sustainable building |
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must: |
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(1) be for a period of at least 60 months; |
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(2) provide for equal monthly amounts or conform to |
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federal depreciation schedules; |
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(3) begin on the month in which the building is placed |
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in service; and |
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(4) cover only a period in which the building is in |
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use. |
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(d) A taxable entity that makes a deduction under this |
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section shall file with the comptroller an amortization schedule |
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showing the period in which a deduction is to be made. On the |
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request of the comptroller, the taxable entity shall file with the |
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comptroller proof of: |
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(1) certification by the energy office under |
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Subsection (e); and |
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(2) the cost of the building. |
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(e) The energy office shall certify a sustainable building |
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that meets the standards adopted by the energy office under |
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Subsection (f). |
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(f) The energy office shall: |
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(1) adopt and update as necessary energy efficiency |
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and conservation standards for the construction of a sustainable |
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building that initially match those of a silver certification for a |
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commercial building under the Leadership in Energy and |
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Environmental Design (LEED) rating system as it exists on January |
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1, 2011; and |
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(2) adopt rules to implement this section. |
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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, 2012. |