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Committee advances bill extending ad valorem tax‑exemption eligibility for energy projects to 2031
Summary
The Senate Finance Committee adopted a committee substitute for SB 2824 to move several deadlines (previously 2026/2027) to 2031, keeping certain energy projects eligible for up to a 50% ad valorem tax exemption; the substitute passed by voice vote and will be reported out.
The committee adopted the committee substitute for Senate Bill 2824, which extends the dates in current law that allow certain energy projects to be considered for up to a 50% ad valorem tax exemption.
The chair explained the substitute changes multiple statutory deadlines from 2026/2027 to 2031 so that projects that would otherwise lose eligibility can still qualify for the exemption. The substitute was moved and a voice vote carried; the chair stated "the ayes have it," and the committee adopted the committee substitute.
The committee did not include further discussion in the record about fiscal or local government impacts during the brief explanation and voice vote.
The committee's action advances SB 2824 out of the Finance Committee for further consideration.
