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A BILL TO BE ENTITLED
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AN ACT
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relating to the eligibility of property used in connection with |
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renewable energy electric generation through the use of wind power |
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for a limitation on appraised value of property for ad valorem tax |
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purposes under the Texas Economic Development Act. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 313.024, Tax Code, is amended by adding |
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Subsection (b-1) to read as follows: |
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(b-1) Property used by an entity for renewable energy |
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electric generation through the use of wind power is not eligible |
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for a limitation on appraised value under this subchapter for a tax |
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year if the property owner receives a federal subsidy for the use of |
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the property in that manner for that tax year, including a renewable |
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electricity production credit under Section 45, Internal Revenue |
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Code of 1986. |
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SECTION 2. The change in law made by this Act applies only |
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to an agreement entered into under Chapter 313, Tax Code, on or |
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after the effective date of this Act. An agreement entered into |
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under that chapter before the effective date of this Act is governed |
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by the law in effect on the date the agreement was entered into, and |
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the former law is continued in effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2015. |