Bill Text: TX HB3040 | 2021-2022 | 87th Legislature | Introduced
Bill Title: Relating to the continuation and application of the Texas Economic Development Act.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2021-03-19 - Referred to Ways & Means [HB3040 Detail]
Download: Texas-2021-HB3040-Introduced.html
| 87R9474 SMH-F | ||
| By: Morrison | H.B. No. 3040 | |
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| 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 [ |
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| 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; [ |
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| (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. | ||
