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A BILL TO BE ENTITLED
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AN ACT
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relating to the eligibility of certain property located in a |
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reinvestment zone for certain ad valorem tax incentives. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 320, Tax Code, is amended by adding |
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Section 320.002 to read as follows: |
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Sec. 320.002. PROPERTY INELIGIBLE FOR TAX INCENTIVES. (a) |
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In this section: |
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(1) "Military aviation facility" has the meaning |
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assigned by Section 312.0021. |
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(2) "Qualifying property" means a parcel of land that |
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is located wholly or partly in a reinvestment zone, a new building |
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constructed on the parcel of land, a new improvement erected or |
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affixed on the parcel of land, or tangible personal property placed |
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in service in the building or improvement or on the parcel of land. |
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(3) "Wind-powered energy device" has the meaning |
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assigned by Section 11.27. |
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(b) Notwithstanding any other law, an owner of qualifying |
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property may not receive an exemption from ad valorem taxation or a |
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limitation on appraised value for the qualifying property under an |
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agreement entered into under a law enacted as part of a program to |
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encourage economic development in an area designated as a |
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reinvestment zone if, on or after the date the agreement is entered |
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into, a wind-powered energy device is installed or constructed on |
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the qualifying property at a location that is within 25 nautical |
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miles of the boundaries of a military aviation facility located in |
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this state. The prohibition provided by this subsection applies |
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regardless of whether the wind-powered energy device is installed |
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or constructed at a location that is in the reinvestment zone. |
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SECTION 2. This Act applies only to ad valorem taxes imposed |
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for a tax year beginning on or after the effective date of this Act. |
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SECTION 3. To the extent of any conflict, this Act prevails |
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over another Act of the 88th Legislature, Regular Session, 2023, |
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regardless of the relative dates of enactment. |
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SECTION 4. This Act takes effect January 1, 2024. |