88R10150 LHC-F
 
  By: King S.B. No. 1771
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the appraisal for ad valorem tax purposes of property
  owned by certain electric cooperatives.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter B, Chapter 23, Tax Code, is amended by
  adding Section 23.1212 to read as follows:
         Sec. 23.1212.  PROPERTY OWNED BY ELECTRIC COOPERATIVE;
  VALUE. (a)  In this section:
               (1)  "Electric cooperative" has the meaning assigned by
  Section 11.003, Utilities Code.
               (2)  "Presumptive appraised value" means the value
  equal to 20 percent of the net book value of taxable property on
  January 1 of a tax year.
         (b)  An electric cooperative that owns taxable real or
  personal property in more than one appraisal district may elect to
  have the property appraised for a tax year as provided by this
  section.
         (c)  To elect appraisal of property for a tax year under this
  section, an electric cooperative must submit a written request not
  later than the applicable deadline for filing a rendition statement
  or property report under Section 22.23 to the chief appraiser of
  each appraisal district for which the election is made. The request
  must state the net book value on January 1 of that tax year of the
  electric cooperative's taxable property in the appraisal district
  for which the request is submitted as determined on the basis of the
  electric cooperative's books and records.
         (d)  Except as provided by Subsection (e), a chief appraiser
  who receives a request timely submitted under this section must
  appraise the property that is the subject of the request at the
  property's presumptive appraised value.
         (e)  A chief appraiser may increase the appraised value of an
  electric cooperative's real and personal property to an amount
  greater than the presumptive appraised value if the increase is
  supported by clear and convincing evidence.
         SECTION 2.  This Act applies only to an ad valorem tax year
  that begins on or after the effective date of this Act.
         SECTION 3.  This Act takes effect September 1, 2023.