Latest news with #HB14
Yahoo
30-05-2025
- Business
- Yahoo
How a $350M nuclear power proposal could transform Texas' energy landscape
A sweeping proposal to provide up to $350 million to private companies to help them build advanced nuclear power generation plants in Texas is one step away from reaching Gov. Greg Abbott's desk after the House author said Thursday that he expects the chamber to accept tweaks made by the Senate. "Yessir," state Rep. Cody Harris, R-Palestine, told the American-Statesman in a text message response to a question about whether he'll recommend sending the Senate's version of the bill to the governor. Abbott signaled early in the legislative session that he looks forward to signing such a measure into law. House Bill 14, by Harris and sponsored in the Senate by Georgetown Republican Sen. Charles Schwertner, would establish the Texas Advanced Nuclear Energy Office and the Advanced Nuclear Development Fund under the governor's office. The new agency and funding arm would assess the need for additional nuclear generation or explore ways to promote future plant construction. The bill sets up guidelines and benchmarks for companies planning to develop nuclear plants to help meet Texas' seemingly insatiable appetite for electric power, and it makes available public financial assistance for both planning and constructing power plants. "Advancements in nuclear energy offer a promising opportunity to strengthen our electric grid with reliable, dispatchable generation while supporting the growth of this innovative industry," Schwertner said as he explained the Senate version of HB 14. Both chambers passed the bill with bipartisan support, though there was some skepticism expressed about the funding provisions. "Would it not make more sense to maybe do a revolving loan so that they (power companies) would pay them back and we could re-enter and save more money into the system and encourage more nuclear development?" state Sen. Jose Menendez, D-San Antonio, asked Schwertner. The proposed grant system would be a more persuasive tool, Schwertner responded. Plus, he added, the legislation contains payback provisions if companies do not deliver what they promised. "They do have risk," he said. Under HB 14, the state Public Utility Commission will develop a framework to tie grant amounts to the amount of electric generation a project would produce. In his State of the State address shortly after the Legislature convened in January, Abbott called for a "nuclear renaissance" in Texas to ensure that the rapidly growing state can meet the demand for power that comes with not only adding to its population, but also attracting more commercial and industrial development. Texas is home to two nuclear power plants, but both are aging. The Comanche Peak Nuclear Power Plant's first phase was completed in 1990 after several delays and setbacks since construction began in 1974. The second phase of the plant, which is about 60 miles southwest of Fort Worth, went online in 1993. The South Texas Project in Matagorda County, about 90 miles south of Houston, began operations in 1988. More: Why Texas A&M University wants state-of-the-art nuclear power plants on its campus As of last year, there were 54 commercially operating nuclear power plants with 94 nuclear power reactors in 28 states, according to the Nuclear Regulatory Commission. Illinois has 11 reactors, the most of any state. The nation's largest nuclear power source, the Alvin W. Vogtle Electric Generating Plant in Georgia, has four reactors. The average age of all U.S. nuclear plants is around 42. Reed Clay, president of the Texas Nuclear Alliance, called the legislation "a giant leap forward for our state and our country." He predicted it would revive an industry that "was all but dead for decades." "With the passage of H.B. 14 and associated legislation, Texas is positioned to lead a nuclear renaissance that is now rightly seen as imperative for the energy security and national security of the United States," Clay said in a statement to the Statesman. Meanwhile, Texas A&M University's research-focused RELLIS campus near the system's flagship institution is working to develop a nuclear generation project just a fraction of the size of traditional nuclear plants like those in Comanche Peak, and the South Texas Project. The university's permit is awaiting approval from the NRC. Also, Natura Resources is seeking federal approval for a nuclear plant in Abilene. The first small modular reactor in Texas will be located on Dow's Seadrift plant just north of San Antonio Bay near Victoria. Dow is partnering with the company X-energy on the project that was bolstered by an initial $80 million grant from the U.S. Energy Department. The formal permit application was filed with the NRC in March. Called "small modular reactors," the newer-generation plants are a fraction of the size and can be manufactured offsite, trucked to their permanent locations and buried underground, which proponents say is both safer and better protects them from being targeted by terrorists or other hostile forces. This article originally appeared on Austin American-Statesman: Texas lawmakers near nuclear bill passage. How it'll help power grid.
Yahoo
05-05-2025
- Business
- Yahoo
Rep. Harris' bill to make Texas ‘Nuclear Capitol of the World' passes State House
AUSTIN, Texas (KETK) – The Texas House of Representatives has passed East Texas State Representative Cody Harris' bill to support the growth of the state's nuclear energy industry. TOWNHALL TENSION: State reps booed off stage during education meeting HB 14 was passed by the Texas House on April 22 with 125 yea's, 21 nay's and 2 present. The bill would start a Texas Advanced Nuclear Energy Office to 'lead the transition to a balanced energy future by advancing innovative nuclear energy generation technologies while delivering safe, reliable, and clean energy solutions that address the state's growing demand.' The office would provide strategic leadership for a new system of advanced nuclear reactors in Texas by collaborating with local leaders and providing recommendations to Gov. Greg Abbott and the State legislature. 'As the author of this bill, I've worked hard to make sure Texas leads the way in advanced nuclear energy—our future depends on it,' Harris said on April 22. 'HB 14 sets the stage for bold innovation, high-paying jobs, and energy that's reliable, clean, and made right here in Texas. We're not just keeping the lights on—we're lighting the path forward. We're making Texas the Nuclear Capital of the World!' To help the proposed office achieve its goal of leading the transition to a 'balanced energy future' they'll be able to provide reimbursement grants from a new Texas advanced nuclear development fund. 'Glad to see HB 14 pass the House,' Abbott said. 'This bill is key to diversifying our energy industry, expanding electric generation capacity, developing our workforce and ensuring Texas is the headquarters of the nuclear renaissance. Thanks to Rep. [Harris] for leading on this issue!' The bill's development grant would cover up to $12.5 million in expenses, while another advanced nuclear construction reimbursement grant would cover expenses up to $200 million. After a second record vote on April 23, HB 14 was referred to the Texas Senate Committee on Business & Commerce along with it's Senate companion bill SB 2060. To learn more about HB 14, visit the Texas Legislature online. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
15-03-2025
- Business
- Yahoo
Dems propose eliminating personal income taxes for certain working families
Mar. 14—SANTA FE — Democrats are proposing eliminating all personal income taxes for working-class households making $70,000 or less a year, a cost that would be offset by a new oil surtax. The earned income tax credit proposal unveiled this week passed the House Taxation and Revenue Committee 7-5 along party lines Friday. Republicans dubbed it another effort to harm the oil and gas industry. The proposal comes as New Mexico has seen a booming budget and surplus. But it is uncertain if actions by the Trump administration will result in the loss of federal dollars the state is heavily reliant upon. The tax package also takes into consideration the increasing likelihood of a recession and high inflation rates, according to bill sponsors. "We don't know how unaffordable life will become over the next few years," said House Speaker Javier Martínez, D-Albuquerque, a sponsor of the tax package. House Bill 14 would expand the state's working families tax credit currently available for low- and middle-income households. An additional 100,000 New Mexicans would get the tax break if the Legislature also approves a new 0.28% severance and sale surtax on oil when prices per barrel are at or above $55, which they are today. Tax credits would be available for workers making up to $82,400 annually, though the credits may not fully offset personal income taxes in all situations. The state would lose out in fiscal year 2026 on about $72 million from the loss of personal income tax revenue, but that would be compensated with the roughly $130 million generated from the new oil surtax. "Revenues raised by these provisions are used to help New Mexicans in the middle and working classes," said bill sponsor Rep. Derrick Lente, D-Sandia Pueblo. The tax package would also slightly adjust emergency school tax rates — money that goes to the state's general fund. Gas tax rates would decrease from 4% to 3.9%, resulting in an $11.4 million loss of revenue. Oil tax rates would remain at 3.15%. Current tax incentives offered for wells producing small amounts, known as stripper wells, would remain in place. "New Mexico has an absolute right to negotiate what is equal and fair for our citizens and provide those opportunities," Lente said. 'A much more modest approach' The tax package is a combination of 16 previously tabled bills, Lente explained. He described it as a calculated approach that doesn't go all-out on spending. "We've taken a much more modest approach," he said. In a round-about way, the package eliminates personal income taxes for many working families. That's because it would offer tax credits in increasing amounts depending on how much taxpayers make, their marital status and if they have children. It would also make New Mexico's working-class tax incentives more independent of the federal government. Eligibility for the state's working families tax credit is currently based on the federal earned income tax credit, but HB14 would allow the New Mexico Taxation and Revenue Department to directly adjust income thresholds based on inflation. "The bill decouples New Mexico from the federal earned income tax credit, allowing us to tailor this program for the benefit of New Mexicans as we study the impacts of this program over the next several years," Lente said. Taxing NM's big revenue source Rep. Rod Montoya, R-Farmington, said he's always loved the working-class income tax credit. But "this year of all years does not justify raising taxes on the industry that pays for approximately half of our budget," he said. Surging oil production in recent years has resulted in hundreds of millions of dollars more for the state, accounting for upward of a third of the currently proposed $10.8 billion budget. But decreasing oil prices have raised red flags for Republicans, prompting Rep. Jonathan Allen Henry, R-Artesia, to call the state of the industry unstable. The price of WTI (West Texas Intermediate) crude oil was $67 a barrel Friday, a drop of approximately $9 since the start of the session. Henry said it's a sign to be cautious. Oil and gas producers speaking against the bill during public comment, including the Independent Petroleum Association of New Mexico and the New Mexico Oil and Gas Association, voiced similar sentiments. Bridget Dixson, president and CEO of the Santa Fe Chamber of Commerce, added that the tax package only worsens the state's dependence on the volatile oil and gas industry, which Lente rebutted. "Our oil and gas industry is dependent on global dynamics, and not necessarily a small increase in this equalization," he said. "So when we talk about tariffs being waged and a federal administration waging certain wars with certain individuals, this is far more of a reach than a modest attempt to equalize New Mexico's tax rates."
Yahoo
13-02-2025
- Business
- Yahoo
Proposed tax credit proposal would expand benefits to more than 100K low-income New Mexicans
A state and federal tax credit pairing designed to help low-income New Mexicans could grow by 100,000 people if one legislative proposal wins approval. House Bill 14, a measure that would allow those taxpayers to take advantage of the such benefits, would encourage better workforce participation, reduce poverty and improve outcomes for children, the bill's co-sponsor, Rep. Derrick Lente, D-Sandia Pueblo, told lawmakers Wednesday. The House Commerce and Economic Development Committee voted 10-0 to advance HB 14, which would replace the Working Families Tax Credit, which supplements the federal Earned Income Tax Credit by matching 25% of it. The bill would replace the Working Families Tax Credit with a state version of the Earned Income Tax Credit, which in turn would effectively amount to about 30% of the federal credit. The new credit would also expand eligibility for more low-income taxpayers across the board, particularly for those without children, according to a Legislative Finance Committee analysis. 'HB 14 furthers the strategy and provides a way for New Mexico to continue to invest in improving the quality of life for all New Mexicans, especially those that are single filers and those that are lower- to middle-income folks,' Lente said. The income ceiling for single taxpayers with no children under the current credits is $17,640, according to a Legislative Finance Committee analysis. That would grow to $35,300 under the bill. For married couples with two children, the ceiling would grow from $59,478 to $69,250. The state Taxation and Revenue Department estimates 101,865 new taxpayers would be eligible for the expanded Earned Income Tax Credit. The question of how much the new credit would cost state coffers depends on who you ask. LFC analysts put the cost of HB 14 at $73.3 million in the coming fiscal year in recurring revenue from the state's general fund, and $78.3 million by fiscal year 2029. The Taxation and Revenue Department, though, put the cost far lower, growing from $42.7 million in the coming fiscal year to $48 million in fiscal year 2029. The Working Families Tax Credit has been lauded by advocacy groups as a measure that has helped lift more of New Mexico's families and children out of poverty. Replacing that tax credit with the expanded state Earned Income Tax Credit would help continue that trend, said Paige Knight, a deputy policy director at New Mexico Voices for Children. HB 14 would allow 'more families to put food on the table, to pay their bills and to be better positioned to secure economic stability,' she said in an interview. In a written statement, House Speaker Javier Martínez, another co-sponsor of HB 14, said the legislation builds on the state's previous progress of passing worker and family-friendly policies. 'As the chaos in Washington, D.C. worsens rising costs, it's especially important that we do whatever we can to relieve the pressures on working people,' he wrote.
Yahoo
13-02-2025
- Politics
- Yahoo
Alabama House committee approves bill allowing governor, AG to appoint local police chiefs
Rep. Reed Ingram, R-Pike Road, speaks to colleagues on the floor of the Alabama House of Representatives before the start of the session on Feb. 6, 2024 in Montgomery, Alabama. An House committee approved a bill that would allow state officials to appoint a local police chief if they determine there is an ongoing public safety risk in the area. (Brian Lyman/Alabama Reflector) An Alabama House committee Wednesday approved a bill that would allow state officials to appoint the leaders of local police departments. HB 14, sponsored by Rep. Reed Ingram, R-Pike Road, would allow the governor and attorney general to appoint a local police chief if they determine there is an ongoing public safety risk. 'It was a fair, valid question about 'Why don't we just do both to give it a little more meat and to make sure that everybody's on the same page?'' Ingram said. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX The legislation has drawn opposition from city officials and legislators, who say it is government overreach that would allow chiefs appointed under the law to operate without local oversight. The bill requires the governor's office and attorney general's office to review crime statistics relevant to the area and consult with the local district attorney's office, the sheriff's office and crime victims before declaring an emergency. Staffing at a local police department must also be 30% off average staffing levels over the prior ten years. Many police departments in the state are dealing with staffing issues and struggling to attract recruits. The legislation was amended after a public hearing in Tuesday's committee meeting to limit the intervention to six months, with the possibility of returning after another six-month period. The amendment also requires the governor and the attorney general to agree to intervention. As originally filed, the bill only required one of the two officials to decide to intervene. 'Six months they're out. They can't come back in for another six months,' Ingram said. But opponents of the legislation said they remained wary of political influence. 'I just still have concerns that there's no criteria, and it could be an arbitrary use of power at the executive level,' said Rep. Kelvin Datcher, D-Birmingham. Reed said that this bill is a temporary way to address violence and that Gov. Kay Ivey's office is working on another bill that would provide a more permanent solution, including funding for a permanent task force. 'This was just a temporary fix, since we had so much problems here, along with the city, the county and the state, that worked on that,' he said, though he did not specify the local governments. The bill now heads to the full House for further consideration. SUPPORT: YOU MAKE OUR WORK POSSIBLE
