Relating to a franchise tax credit for taxable entities that construct a nuclear project.

HB 5120 creates a franchise tax credit for Texas taxable entities that construct qualifying nuclear projects. The credit equals 10% of construction costs (capped at $250 million) for projects like nuclear power plants, reactors, manufacturing facilities, or uranium enrichment sites when first placed in service. Unused credit can be carried forward for up to 25 years to offset future franchise tax liabilities. Entities must apply for the credit when filing their franchise tax reports, and credits cannot be transferred unless most assets are sold in the same transaction.