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. |