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Summary: Current tax law that extends property tax exemptions for pollution control does not include subsea well containment equipment. HB 1712 would establish property and sales tax exemptions for property used in offshore oil spill responses.
Analysis: We support HB 1712 because it would allow subsea well containment equipment to be treated the same way for tax purposes as other pollution control equipment. This will allow for even application of the law and may encourage entities to locate equipment associated with responding to oil spills in Texas and potentially bring associated jobs to Texas. Moreover, this will limit government by reducing possible revenue and allow oil spill responders to keep more of their resources to put toward such responses.