|
|
|
A BILL TO BE ENTITLED
|
|
AN ACT
|
|
relating to the continuation and application of the Texas Economic |
|
Development Act. |
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
SECTION 1. Section 313.007, Tax Code, is amended to read as |
|
follows: |
|
Sec. 313.007. EXPIRATION. Subchapters B and C expire |
|
December 31, 2032 [2022]. |
|
SECTION 2. Section 313.024(b), Tax Code, is amended to read |
|
as follows: |
|
(b) To be eligible for a limitation on appraised value under |
|
this subchapter, the entity must use the property for: |
|
(1) manufacturing; |
|
(2) research and development; |
|
(3) a clean coal project, as defined by Section 5.001, |
|
Water Code; |
|
(4) an advanced clean energy project, as defined by |
|
Section 382.003, Health and Safety Code; |
|
(5) renewable energy electric generation; |
|
(6) electric power generation using integrated |
|
gasification combined cycle technology; |
|
(7) nuclear electric power generation; |
|
(8) a computer center primarily used in connection |
|
with one or more activities described by Subdivisions (1) through |
|
(7) conducted by the entity; [or] |
|
(9) a Texas priority project; |
|
(10) an aquifer storage and recovery project; |
|
(11) a seawater desalination project; |
|
(12) a project to treat fluid oil and gas waste for a |
|
subsequent beneficial use; or |
|
(13) an interregional water supply project. |
|
SECTION 3. Section 313.024(e), Tax Code, is amended by |
|
adding Subdivisions (10), (11), (12), and (13) to read as follows: |
|
(10) "Aquifer storage and recovery project" has the |
|
meaning assigned by Section 27.151, Water Code. |
|
(11) "Seawater desalination project" means a project |
|
to divert state water from the Gulf of Mexico or a bay or arm of the |
|
Gulf of Mexico for desalination and use for industrial purposes. |
|
(12) "Fluid oil and gas waste" has the meaning |
|
assigned by Section 122.001, Natural Resources Code. |
|
(13) "Interregional water supply project" means a |
|
water supply project that benefits multiple water planning regions. |
|
SECTION 4. This Act takes effect immediately if it receives |
|
a vote of two-thirds of all the members elected to each house, as |
|
provided by Section 39, Article III, Texas Constitution. If this |
|
Act does not receive the vote necessary for immediate effect, this |
|
Act takes effect September 1, 2021. |