| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to imposing a tax on the amount of federal renewable energy |
|
|
production credits received by wind electric generators. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Subtitle E, Title 2, Tax Code, is amended by |
|
|
adding Chapter 165 to read as follows: |
|
|
CHAPTER 165. TAX ON AMOUNT OF FEDERAL PRODUCTION CREDITS RECEIVED |
|
|
BY WIND ELECTRIC GENERATORS |
|
|
SUBCHAPTER A. GENERAL PROVISIONS |
|
|
Sec. 165.001. DEFINITIONS. In this chapter: |
|
|
(1) "Affiliated power generation company," "electric |
|
|
utility," and "exempt wholesale generator" have the meanings |
|
|
assigned by Section 31.002, Utilities Code. |
|
|
(2) "Electric cooperative" has the meaning assigned by |
|
|
Section 11.003, Utilities Code. |
|
|
(3) "Electric generator" includes: |
|
|
(A) an affiliated power generation company; |
|
|
(B) an electric utility or electric cooperative |
|
|
that owns or operates for compensation in this state equipment or |
|
|
facilities to generate electricity in this state; |
|
|
(C) an exempt wholesale generator; and |
|
|
(D) a power generation company. |
|
|
(4) "Federal production tax credit" means the |
|
|
renewable energy production credit under Section 45, Internal |
|
|
Revenue Code of 1986. |
|
|
(5) "Power generation company" has the meaning |
|
|
assigned by Section 31.002, Utilities Code, except that the term |
|
|
does not include a distributed natural gas generation facility, as |
|
|
that term is defined by Section 31.002, Utilities Code. |
|
|
SUBCHAPTER B. IMPOSITION AND COLLECTION OF TAX |
|
|
Sec. 165.021. TAX IMPOSED. A tax is imposed on each |
|
|
electric generator in this state that receives a federal production |
|
|
tax credit for which the qualified energy resource is wind. |
|
|
Sec. 165.022. AMOUNT OF TAX. The amount of the tax is equal |
|
|
to the amount of the federal production tax credit received by the |
|
|
electric generator for which the qualified energy resource is wind. |
|
|
Sec. 165.023. REPORT AND PAYMENT OF TAX. (a) Not later |
|
|
than April 15 of each year, an electric generator on whom the tax is |
|
|
imposed shall file with the comptroller a report: |
|
|
(1) stating the amount of the federal production tax |
|
|
credit the electric generator received in the preceding calendar |
|
|
year for which the qualified energy resource is wind; and |
|
|
(2) including any other information required by the |
|
|
comptroller. |
|
|
(b) The electric generator shall send the amount of tax due |
|
|
for the preceding calendar year to the comptroller with the report. |
|
|
Sec. 165.024. RECORDS. An electric generator on whom the |
|
|
tax is imposed shall keep a complete record of: |
|
|
(1) the amount of all federal production tax credits |
|
|
the electric generator receives along with the qualified energy |
|
|
resource; and |
|
|
(2) any other information required by the comptroller. |
|
|
SUBCHAPTER C. DISPOSITION OF PROCEEDS |
|
|
Sec. 165.051. DISPOSITION OF PROCEEDS. The comptroller |
|
|
shall deposit the proceeds from the collection of the tax as |
|
|
follows: |
|
|
(1) 25 percent to the credit of the foundation school |
|
|
fund; and |
|
|
(2) the remainder to the credit of the general revenue |
|
|
fund. |
|
|
SECTION 2. This Act takes effect September 1, 2021. |