This legislation allows the Texas governor and comptroller to issue franchise tax credits to promote research and development activities related to clean coal. It also allows a qualified clean coal project, if it does not have any franchise tax liability, to assign the tax credits to a taxable entity.
It also allows the Bureau of Economic Geology at the University of Texas at Austin to monitor, measure, and verify the permanent status of sequestered carbon dioxide to which the Texas Railroad Commission has acquired rights.
