Texas HB3017 imposes an additional franchise tax on solar and wind energy producers with a capacity over 1 megawatt.

HB3017 amends the Texas Tax Code to impose an additional franchise tax on taxable entities that are solar or wind energy producers with a capacity exceeding 1 megawatt. The additional tax is equivalent to the total amount of benefits received by the entity during the reporting period from federal subsidies, federal tax credits, or other federal benefits or tax preferences. Entities receiving such benefits must file a report, regardless of any exemption, detailing the dollar amount of each benefit received.

Texas HB3017 imposes an additional franchise tax on solar and wind energy producers with a capacity over 1 megawatt.

HB3017 amends the Texas Tax Code to impose an additional franchise tax on taxable entities that are solar or wind energy producers with a capacity exceeding 1 megawatt. The additional tax is equivalent to the total amount of benefits received by the entity during the reporting period from federal subsidies, federal tax credits, or other federal benefits or tax preferences. Entities receiving such benefits must file a report, regardless of any exemption, detailing the dollar amount of each benefit received.