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Texas Statutes (Last Updated: January 4, 2014) |
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TAX CODE |
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Title 3. LOCAL TAXATION |
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Subtitle B. SPECIAL PROPERTY TAX PROVISIONS |
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Chapter 313. TEXAS ECONOMIC DEVELOPMENT ACT |
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Subchapter B. LIMITATION ON APPRAISED VALUE OF CERTAIN PROPERTY USED TO CREATE JOBS |
Sec. 313.024. ELIGIBLE PROPERTY
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(a) This subchapter and Subchapters C and D apply only to property owned by an entity to which Chapter 171 applies.
(a-1) Expired.
(b) To be eligible for a limitation on appraised value under this subchapter, the entity must use the property in connection with:
(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; or
(8) a computer center primarily used in connection with one or more activities described by Subdivisions (1) through (7) conducted by the entity.
(b-1) Expired.
(c) For purposes of determining an applicant's eligibility for a limitation under this subchapter:
(1) the land on which a building or component of a building described by Section 313.021(1)(E) is located is not considered a qualified investment;
(2) property that is leased under a capitalized lease may be considered a qualified investment;
(3) property that is leased under an operating lease may not be considered a qualified investment; and
(4) property that is owned by a person other than the applicant and that is pooled or proposed to be pooled with property owned by the applicant may not be included in determining the amount of the applicant's qualifying investment.
(d) To be eligible for a limitation on appraised value under this subchapter, at least 80 percent of all the new jobs created by the property owner must be qualifying jobs as defined by Section 313.021(3).
(e) In this section:
(1) "Manufacturing" means an establishment primarily engaged in activities described in sectors 31-33 of the 2007 North American Industry Classification System.
(2) "Renewable energy electric generation" means an establishment primarily engaged in activities described in category 221119 of the 1997 North American Industry Classification System.
(3) "Integrated gasification combined cycle technology" means technology used to produce electricity in a combined combustion turbine and steam turbine application using synthetic gas or another product produced from the gasification of coal or another carbon-based feedstock, including related activities such as materials-handling and gasification of coal or another carbon-based feedstock.
(4) "Nuclear electric power generation" means activities described in category 221113 of the 2002 North American Industry Classification System.
(5) "Research and development" means an establishment primarily engaged in activities described in category 541710 of the 2002 North American Industry Classification System.
(6) "Computer center" means an establishment primarily engaged in providing electronic data processing and information storage.