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A BILL TO BE ENTITLED
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AN ACT
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relating to the findings required to be made by the comptroller of |
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public accounts in order to recommend for approval an application |
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for a limitation on the taxable value of eligible property for |
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school district maintenance and operations ad valorem tax purposes |
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under the Texas Jobs, Energy, Technology, and Innovation Act. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 403.609(b), Government Code, as added by |
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Chapter 377 (H.B. 5), Acts of the 88th Legislature, Regular |
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Session, 2023, is amended to read as follows: |
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(b) The comptroller may not recommend an application for |
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approval unless the comptroller finds that: |
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(1) the proposed project that is the subject of the |
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application is an eligible project; |
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(2) the proposed project is reasonably likely to |
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generate, before the 20th anniversary of the first day of the |
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construction period, state or local tax revenue, including ad |
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valorem tax revenue attributable to the effect of the project on the |
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economy of this state, in an amount sufficient to offset the school |
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district maintenance and operations ad valorem tax revenue lost as |
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a result of the agreement; |
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(3) for a proposed project other than a facility |
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described by Section 403.602(8)(A)(i)(b), the agreement is a |
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compelling factor in a competitive site selection determination and |
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that, in the absence of the agreement, the applicant would not make |
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the proposed investment in this state; and |
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(4) if the application indicates that the eligible |
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project is proposed to be located in a qualified opportunity zone, |
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the project is located in the zone. |
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SECTION 2. The change in law made by this Act applies only |
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to an agreement entered into under Subchapter T, Chapter 403, |
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Government Code, as added by Chapter 377 (H.B. 5), Acts of the 88th |
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Legislature, Regular Session, 2023, pursuant to an application |
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submitted under that subchapter on or after the effective date of |
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this Act. |
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SECTION 3. This Act takes effect September 1, 2025. |