Amend CSHB 1556 (house committee printing) as follows:
(1) Strike page 4, lines 24 and 25, and substitute the following:
(b) create a number of [at least 25] new qualifying jobs equal to at least the amount computed by:
(1) subtracting from the market value of the owner's qualified property as described in the agreement between the owner and the school district entered into under this section the appraised value for school district maintenance and operations ad valorem tax purposes of the property;
(2) rounding the amount computed under Sub-sub-subparagraph (1) to the nearest $1 million;
(3) dividing the amount computed under Sub-sub-subparagraph (2) by $1 million; and
(4) multiplying the amount computed under Sub-sub-subparagraph (3) by 25;
(2) Add the following appropriately numbered SECTION to the bill and renumber the subsequent SECTIONS of the bill accordingly:
SECTION ____. Section 313.051(b), Tax Code is amended to read as follows:
(b) The governing body of a school district to which this subchapter applies may enter into an agreement in the same manner as a school district to which Subchapter B applies may do so under Subchapter B, subject to Sections 313.052-313.054. Except as otherwise provided by this subchapter, the provisions of Subchapter B apply to a school district to which this subchapter applies. For purposes of this subchapter, a property owner is required to create a number of [at least 10] new qualifying jobs as defined by Section 313.021(3) on the owner's qualified property equal to at least the amount computed by:
(1) subtracting from the market value of the owner's qualified property as described in the agreement between the owner and the school district entered into under this section the appraised value for school district maintenance and operations ad valorem tax purposes of the property;
(2) rounding the amount computed under Subdivision (1) to the nearest $1 million;
(3) dividing the amount computed under Subdivision (2) by $1 million; and
(4) multiplying the amount computed under Subdivision (3) by 10.