According to Abbott’s press release, the passage of a congressional bill is “a major factor for this potential investment by Samsung.”
The state representative and Texas Senate nominee said Texas would “roll out the red carpet” for a potential relocation for Twitter.
The tax break program expires at the end of this year after a renewal effort failed during the 87th legislative session.
A proposed change in how the state collects and compiles data about an economic development incentive program spurred criticism.
Across the eight applications, companies have collectively requested over $1 billion in property tax abatements while none meet minimum job creation requirements.
The keynote issue for the July special session will be the election reform legislation that died on the last night of the regular session.
Days after a similar proposal collapsed under the weight of public pressure in another part of the state, a property tax abatement has been approved in Bastrop County by the Smithville ISD.
Chapter 313 abatements were created to entice businesses to relocate to Texas and entities across the state have issued hundreds since 2001.
This week — the lieutenant governor is criticized by a conservative House member, the governor tempers a veto threat, and the revival of a property tax abatement program is floated.
An economic development tax incentive program is on the verge of sunsetting after the Senate declined to pass legislation extending it for two years.
After days of consistent opposition, Rep. Jim Murphy postponed his renewal and expansion of the Chapter 313 tax incentive program until after this session.
Certain school district property tax incentives would be eliminated from state code if a bill filed in the Texas House were to pass.
