Texas Governor, Rick Perry, signed into law H.B. 3732, making the sale of electricity generated by an advanced clean energy project exempt for the Texas public utility gross receipts tax. An “advanced clean energy project” is a project for which a Texas Clean Air Act permit application has been received by the Texas Natural Resources Conservation Commission on or after January 1, 2008, and before January 1, 2020. The project must: 1) involve the use of coal, biomass, petroleum coke, solid waste, or fuel cells using hydrogen derived from such fuels, in the generation of electricity, or the creation of liquid fuels outside of the existing fuel production infrastructure while co-generating electricity; 2) meet specified emission standards; and 3) render carbon dioxide capable of capture, sequestration, or abatement if any carbon dioxide is produced by the project. Additional rules and regulations apply. (H.B. 3732, Laws 2007, effective September 1, 2007)