In this edition of the Monday Morning Messenger, TPGA updates members on the benefits and drawbacks of the Inflation Reduction Act for the propane industry.
Last week, TPGA shared the new LP Gas Safety Rule Book from the recent rules enacted on July 18, 2022. Since then, the Railroad Commission has released an enhanced version with all the changes highlighted. Access it in our second story of the morning.
There is a state requirement that banks, utilities, and other businesses report and remit money owed to Texans. The state holds it indefinitely until the rightful owner claims it. From our research, many TPGA member companies in Texas still have money owed to them.
Lastly, for meetings, events, important deadlines, news & photos, please like and follow TPGA on Facebook. Please find the link to follow in our last story.
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Don't forget to check out our Quick Links section for links to more information on the expiring Propane School Bus Rebate, Propane Service Corporative exclusive online savings, Fall Propane Living newsletter signup, and how to invite your local firefighters to ProCOT's Propane Emergency Response Training happening next month. |
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In this issue
- In Brief
- Inflation Reduction Act
- Enhanced LP Gas Rule Book Released
- Claim Your Funds
- Get More TPGA Updates
- Quick Links
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August 17, 2022
August 19, 2022
August 21-27, 2022
August 23-25, 2022
September 5, 2022
TPGA Office Closed for
Labor Day
September 8, 2022
September 10, 2022
September 11-12, 2022
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Inflation Reduction Act:
The Good, the Bad & the Ugly
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The Inflation Reduction Act, a comprehensive climate, tax, and healthcare bill, has passed both U.S. chambers and is on the President's desk to be signed. The federal legislation is a top priority for the Biden Administration and Congressional Democrats. The Act aims to combat climate change by providing incentives, tax credits, and grants, as well as lower healthcare costs, raise taxes for large corporations, and reduce the federal deficit.
This comprehensive bill contains numerous opportunities for propane, including the extension of the Alternative Fuel Tax Credit, Alternative Fuel Refueling Property Credit, more funding for the DERA EPA Clean School Bus Program, incentives for renewable propane production, and other opportunities.
While these opportunities benefit the propane industry, this bill has many other provisions that favor electrification. One of the most concerning provisions establishes a High-Efficiency Electric Home Rebate Program that provides rebates to homeowners to adopt electric appliances and subsidizes the electrification of homes. Eligible appliances include electric water heaters, heat pumps, stoves, clothes dryers, and home infrastructure to accommodate electric equipment. The National Propane Gas Association (NPGA) is evaluating legislative, regulatory, and state advocacy options to combat the effects of this electric rebate program.
NPGA developed a section-by-section overview of the relevant provisions of this legislation. Please see the linked bill summary below.
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RRC Releases Newer Enhanced
LP Gas Rule Safety Rule Book
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Last week the association shared a PDF of the new LP Safety Rule book. Since then, the Railroad Commission has released a special enhanced edition per the request of the Texas Propane Gas Association and the propane industry.
This newer version TPGA is providing you today helps the propane industry identify what rules have changed since the last edition.
The below-linked PDF edition has text revisions shaded. A Δ before a section, subsection, paragraph, table, or figure number indicates a modification to existing text. Where one or more sections, subsections, paragraphs, tables, or figures were deleted, a "•" is placed between the remaining text. New sections, subsections, paragraphs, figures, and tables are indicated with an N.
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The pre-order discount for printed rule books ends on August 17, 2022. |
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The State Most Likely Has Money Owed to Your Company:
How to Claim It
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Although the association covered this topic in a previous Messenger over 2.5 years ago, through TPGA's research, many TPGA members located in Texas still have unclaimed property and funds that can be claimed through the State of Texas.
Since 1963, the Texas government has required institutions, businesses, and governmental entities to report to the state any personal property that has been unclaimed for up to five years, depending on the property in question.
Once reported, there is no statute of limitations for unclaimed property. Funds reported and submitted will remain with Comptroller indefinitely until returned to their rightful owner.
Unclaimed property can be abandoned assets. Some examples:
· dividend, payroll, or cashier's checks
· stocks, bonds, or mutual fund accounts
· utility deposits and other refunds
· bank accounts and safe deposit box contents
· insurance proceeds
· mineral interest or royalty payments
· court deposits, trust funds, or escrow accounts
· overpayments on insurance, utilities, and other bills
· Unclaimed property does not include real estate or vehicles.
But from what we have seen, many of the unclaimed funds on file for TPGA members are from banks, utilities, and wireless companies.
Visit the site below to search for unclaimed property/funds, claim property/funds and submit property/funds to be claimed.
Search Tips: Do not put city or zip. Remember to search not just your company name but DBAs and former names your company has gone by, for instance, if you use to be XYZ Butane years back but now go by XYZ Propane.
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Are You Following TPGA
on Facebook?
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Like & follow the Texas Propane Gas Association Facebook page
Do not miss out on updates on meetings, events, happenings, important dates, reminders, people, and photos.
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THE DEADLINE FOR THE EPA NATIONWIDE CLEAN SCHOOL BUS GRANT
IS AUGUST 19, 2022
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TALLY UP ALL THE SAVINGS WHEN YOU SHOP ONLINE AT PROPANE SERVICE CORP
EXCLUSIVE ONLINE SAVINGS
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SUBSCRIBE YOUR CUSTOMERS TO THE FALL EDITION OF PROPANE LIVING
THE DEADLINE IS SEPT 8TH
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INVITE YOUR FIREFIGHTERS TO OUR PROPANE EMERGENCIES TRAINING
DOWNLOAD & SHARE FLYER
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