.The Texas Energy Report

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.The Texas Energy Report

Texas Senate Unchains Property Tax Relief from Sales Tax Increase: Empower Texans Press Release

May 6, 2019

 

by Destin Sensky

 

Despite the “Big Three” touting their unified support for increasing sales tax to provide for property tax relief, the Texas Senate voted to strip a measure requiring such an increase from school finance legislation and voted to cut spending and dedicate existing revenue instead.

On Monday, the Texas Senate held a marathon debate over House Bill 3, the education spending bill. After considering more than one hundred amendments, the chamber passed the measure by a vote of 26 ayes, 2 nays, and 3 members present not voting.

The debate began with the bill’s sponsor, Senate Education Committee Chairman Larry Taylor (R–Friendswood) moving to strip a provision from the bill that made property tax relief proposals contingent on the passage of an increase in the state’s sales tax….
 

CNG, LNG, LP Registration Instead of Licensing Moves Ahead With HB 2714 Senate Passage

May 4, 2019

 

A bill to “streamline existing Railroad Commission regulations of compressed natural gas (CNG) and liquefied natural gas (LNG) as well as liquefied petroleum gas (LP) occupational licenses” has passed through the Texas Legislature with a final vote in the Senate 31-0 on Friday….
 

How the Oil & Gas Severance Tax Could Be Used to Pay For Education Spending: Sen. Bettencourt Graphic

In addition to talk of raising the oil & gas severance tax, raising the motor vehicle tax by ten cents would be another alternative

 

May 4, 2019

 

While some in the Texas Legislature, including a low-profile bipartisan group that’s looking at alternatives to raising the sales tax, consider ways to pay for increased education spending before the end of this session (see the story below, Increase in Oil & Gas Severance Tax “On the Table” To Raise Texas Revenue), Sen. Paul Bettencourt has already submitted a proposal that indicates dedication of projected severance taxes could pay for planned education spending increases……
 

Should “Excessively High” O&G Refinery Property Tax Refund Interest Be Lowered? Committee Hears Bill To Do So

May 2, 2019

 

Reducing the “excessively high” interest rates paid to refineries by government entities on refunds from property tax appeals — instead tying the interest rate to Treasury Bills — was considered by the Texas House Ways and Means committee on Wednesday….
 

Increase in Oil & Gas Severance Tax “On the Table” To Raise Texas Revenue

Austin news station asks Sen. West if he’s part of a “secret” Senate alternative-tax working group considering, among other things, an increase in the severance tax…”It’s a secret,” he replied.

 

May 2, 2019

 

Raising the severance tax on oil and gas is being floated around the state Capitol as a way to raise money to balance revenue losses in lowering property taxes while maintaining school funding and adding teacher pay raises — the severance tax increase among several ideas proposed in a low-profile Senate working group.

Last month, Texas leaders including Governor Greg Abbott suggested that raising the state sales tax by 1% could help increase money for schools while also allowing for the lowering of property taxes.

Lt. Gov. Dan Patrick and House Speaker Dennis Bonnen joined Gov. Abbott in endorsing the sales tax idea……
 

U.S oil, gas industry sets production, export records

By Alex Mills

 

Texas has a reputation of being a leader in energy production from coast-to-coast. That reputation has grown internationally as Texas leads the nation with dramatic increases in oil and natural gas production and exports.

The International Energy Agency (IEA) recently called the rise in production in Texas and the U.S. “the standout champion of global supply growth” and it expects the trend to continue.

“The second wave of the U.S. shale revolution is coming,” IEA Executive Director Faith Birol was quoted in the April issue of the American Oil and Gas Reporter. “It will see the United States account for 70 percent of the rise in global oil production and some 75 percent of the expansion in liquefied natural gas trade over the next five years. This will shake up international oil and gas trade flows, with profound implications for the geopolitics of energy.”

The U.S. Department of Energy’s Energy Information Administration (EIA) reports both oil and dry natural gas production set U.S. records in February. Oil production hit 12.1 billion barrels per day, Natural gas soared to 89.2 billion cubic feet per day, the highest for any month since EIA began tracking monthly dry natural gas production in 1973….
 

Renewable Energy Generation and Storage Property Rights Bill Clears Texas Senate

The bill addresses customer protections and limits the scope of municipal ordinances that regulate residential solar regulation systems and adds disclosure requirements to code that are already in lease agreements

 

May 1, 2019

 

Guaranteeing that Texans are allowed to install renewable energy devices at their homes and businesses and, in the author’s words, “protect them from aggressive sales practices” is the intention of a bill that has passed the Texas Senate….