TX HB5001

Imposes a new tax on electric generators that produce electricity using energy sources other than natural gas or coal, effectively targeting renewable energy sources like wind and solar

Tax rate is calculated annually by the comptroller based on the previous year's natural gas production tax revenue divided by total cubic feet produced, then multiplied by the average natural gas usage per kilowatt hour of electricity generation

Electric generators must file monthly reports by the 25th of each month detailing kilowatt hours generated from non-gas/coal sources and submit corresponding tax payments to the comptroller

Tax revenue must be deposited into the general revenue fund and may only be appropriated for pay increases for teachers employed by school districts or open-enrollment charter schools

The tax takes effect January 1, 2026, with the first payment and report due March 25, 2026