Gov. Greg Abbott recently vetoed Senate Bill No. 813 relating to the insurance premium tax credit for the certified rehabilitation of certified historic structures, pursuant to Article IV Section 14 of the Texas constitution. Abbott provided this statement about the bill presented in the 87th Texas legislature regular session:

“I am vetoing Senate Bill 813 at the request of the author and sponsor based on the legislature’s passage of House Bill 3777, which would amend the Texas Tax Code to narrow the applicability of the Texas Historic Preservation Tax Credit Program. That program issues franchise tax or insurance premium tax credits worth up to 25 percent of the eligible expenses of rehabilitating a certified historic structure. Senate Bill 813 would have duplicated the authorizing statute for the program in the Texas Insurance Code, but would have created parameters for certified historic structures that differ from House Bill 3777 and thus could cause confusion with respect to the qualification of a project for insurance or franchise tax credits. Since you remain gathered in regular session and continue to conduct formal business, I am delivering this disapproval message directly to you along with the unsigned official enrolled copy of the bill.”