Texas Tax Talk: Development Bill Needs Bilateral Buy-In
Law360 (March 5, 2021, 4:18 PM EST) -- For the past 20 years, Texas Tax Code Chapter 313 — also known as the Texas Economic Development Act — has been the state's most important tool for attracting capital investment by lowering the property tax burden imposed by school districts on the state's largest manufacturing projects.
As we mentioned in a previous Law360 guest column, with Chapter 313 set to expire at the end of 2022, the Legislature is currently evaluating how to move forward. Several bills have been introduced that would simply extend the program, while another makes renewable energy companies ineligible to participate.
However, another recently filed bill...
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