TX HB1623

Bars persons from designated countries (identified in three consecutive U.S. Intelligence Community Annual Threat Assessments as national security risks) from receiving property tax limitations under the Texas Jobs, Energy, Technology, and Innovation Act

Expands ineligibility to include governmental entities of designated countries, organizations headquartered in or controlled by designated country governments, organizations owned/controlled by citizens of designated countries, and citizens of designated countries themselves

Defines "control" as owning at least 50% of voting ownership interest necessary to elect governing authority of an organization

Requires agreement holders to agree not to transfer ownership interests to ineligible foreign persons during the agreement term, with attorney general authorized to terminate agreements for violations

Mandates comptroller reporting on agreements with designated country persons, rejected applications from such persons, and attorney general termination actions; applies only to applications submitted on or after September 1, 2025