Bill Text: TX HB2993 | 2023-2024 | 88th Legislature | Engrossed
Bill Title: Relating to the eligibility of certain property located in a reinvestment zone for certain ad valorem tax incentives.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Engrossed - Dead) 2023-05-16 - Referred to Natural Resources & Economic Development [HB2993 Detail]
Download: Texas-2023-HB2993-Engrossed.html
| 88R10090 CJC-D | ||
| By: Hunter, Slawson | H.B. No. 2993 | |
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| relating to the eligibility of certain property located in a | ||
| reinvestment zone for certain ad valorem tax incentives. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Chapter 320, Tax Code, is amended by adding | ||
| Section 320.002 to read as follows: | ||
| Sec. 320.002. PROPERTY INELIGIBLE FOR TAX INCENTIVES. (a) | ||
| In this section: | ||
| (1) "Military aviation facility" has the meaning | ||
| assigned by Section 312.0021. | ||
| (2) "Qualifying property" means a parcel of land that | ||
| is located wholly or partly in a reinvestment zone, a new building | ||
| constructed on the parcel of land, a new improvement erected or | ||
| affixed on the parcel of land, or tangible personal property placed | ||
| in service in the building or improvement or on the parcel of land. | ||
| (3) "Wind-powered energy device" has the meaning | ||
| assigned by Section 11.27. | ||
| (b) Notwithstanding any other law, an owner of qualifying | ||
| property may not receive an exemption from ad valorem taxation or a | ||
| limitation on appraised value for the qualifying property under an | ||
| agreement entered into under a law enacted as part of a program to | ||
| encourage economic development in an area designated as a | ||
| reinvestment zone if, on or after the date the agreement is entered | ||
| into, a wind-powered energy device is installed or constructed on | ||
| the qualifying property at a location that is within 25 nautical | ||
| miles of the boundaries of a military aviation facility located in | ||
| this state. The prohibition provided by this subsection applies | ||
| regardless of whether the wind-powered energy device is installed | ||
| or constructed at a location that is in the reinvestment zone. | ||
| SECTION 2. This Act applies only to ad valorem taxes imposed | ||
| for a tax year beginning on or after the effective date of this Act. | ||
| SECTION 3. To the extent of any conflict, this Act prevails | ||
| over another Act of the 88th Legislature, Regular Session, 2023, | ||
| regardless of the relative dates of enactment. | ||
| SECTION 4. This Act takes effect January 1, 2024. | ||
