An effort to revive corporate tax incentives intended to recruit major manufacturing and infrastructure projects to Texas is moving forward.
“The bottom line is, I think Texas should have a school tax abatement incentive program, but it should be smaller and more narrow-tailored and have proper oversight and proper protections for the taxpayers,” Sen. Charles Schwertner, R-Georgetown, who sponsored the bill in the Senate, said in the chamber Wednesday.
Industry groups and economic development organizations from throughout the state as well as school districts in cities attracting large projects have supported the legislation. An amendment by Sen. Nathan Johnson, D-Dallas, was approved and would require the comptroller to determine that even after an applying company considers factors such as the state’s business climate and infrastructure, it would still not build the project in Texas without the abatement.
The Senate’s version of the bill increases the number of minimum jobs required based on city population. Projects in cities with more than 750,000 residents will be required to create 150 jobs.
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