Texas HB5120 provides a franchise tax credit for entities constructing nuclear projects, up to $250 million or 10% of costs.

HB5120 amends the Texas Tax Code to introduce a franchise tax credit for taxable entities that construct nuclear projects. A nuclear project includes a nuclear power generation site or facility, a nuclear reactor, a nuclear reactor manufacturing facility, a facility for reprocessing or recycling nuclear fuel, and a facility for enriching uranium. The credit amount is the lesser of 10% of the entity's costs to construct and place in service the nuclear project or $250 million. The credit can be carried forward for up to 25 consecutive reports if unused.

Texas HB5120 provides a franchise tax credit for entities constructing nuclear projects, up to $250 million or 10% of costs.

HB5120 amends the Texas Tax Code to introduce a franchise tax credit for taxable entities that construct nuclear projects. A nuclear project includes a nuclear power generation site or facility, a nuclear reactor, a nuclear reactor manufacturing facility, a facility for reprocessing or recycling nuclear fuel, and a facility for enriching uranium. The credit amount is the lesser of 10% of the entity's costs to construct and place in service the nuclear project or $250 million. The credit can be carried forward for up to 25 consecutive reports if unused.