The Texas Senate Committee on Business and Commerce has taken a step towards reducing incentives for miners operating within the state’s crypto-friendly regulatory environment. Senate Bill 1751, introduced by state Senator Lois Kolkhorst, would amend sections of Texas’ utilities and tax code to limit the anticipated demand of crypto firms participating in a programme intended to compensate them for load reductions on the power grid.
The proposed legislation would cap this demand at “less than 10% of the total load required by all loads in the programme” and stop certain mining firms from receiving abatements on state taxes starting in September. The bill will now go to the Texas state Senate for a floor vote.
