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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 meet 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) "Home energy rating system" means the Mortgage |
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Industry National Home Energy Rating Systems Standards developed by |
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the National Association of State Energy Officials and the |
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Residential Energy Services Network and in effect on January 1, |
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2014. |
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(3) "WaterSense program" means the program operated by |
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the United States Environmental Protection Agency, or a similar |
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successor program. |
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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: |
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(1) that achieves a home energy rating system index |
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value of not more than 50; |
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(2) in which all applicable water use products are |
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certified products under the WaterSense program; and |
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(3) in which any landscape irrigation system was |
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designed and installed by a WaterSense irrigation partner. |
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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) $4,000 for each new single-family home or duplex |
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that achieves a home energy rating system index value of more than |
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25 but not more than 50; |
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(2) $6,000 for each new single-family home or duplex |
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that achieves a home energy rating system index value of more than |
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zero but not more than 25; and |
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(3) $8,000 for each new single-family home or duplex |
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that achieves a home energy rating system index value of not more |
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than zero. |
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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, after 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 the |
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homebuilder completed construction of the new home or duplex. |
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(d) A taxable entity may not carry over a credit amount for a |
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new single-family home or duplex completed during a reporting |
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period to a subsequent 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. |
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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 proof of the home energy rating |
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system index value of each new single-family home or duplex for |
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which the taxable entity is claiming a credit under this |
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subchapter. |
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Sec. 171.906. RULES. (a) The comptroller shall adopt rules |
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necessary to implement this subchapter. |
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(b) The comptroller may adopt revisions to the home energy |
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rating system. |
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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, 2014. |