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TX SB2322
Bill
Status
4/29/2025
Primary Sponsor
Phil King
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AI Summary
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Amends Section 403.609(b) of the Government Code to modify requirements for the Comptroller to recommend approval of applications for property tax value limitations under the Texas Jobs, Energy, Technology, and Innovation Act (JETI Act)
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Exempts certain electric generation facility projects (described under Section 403.602(8)(A)(i)(b)) from the "compelling factor" requirement that typically requires applicants to prove the tax limitation was necessary to secure their investment in Texas
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Retains existing requirements that proposed projects must be eligible, generate sufficient state/local tax revenue within 20 years to offset lost school district M&O tax revenue, and be located in a qualified opportunity zone if claimed
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Applies only to applications submitted on or after the effective date, not to previously approved agreements
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Takes effect September 1, 2025
Legislative Description
Relating to the findings required to be made by the comptroller of public accounts in order to recommend for approval an application for a limitation on the taxable value of eligible property for school district maintenance and operations ad valorem tax purposes under the Texas Jobs, Energy, Technology, and Innovation Act.
COMPTROLLER OF PUBLIC ACCOUNTS
Last Action
Placed on General State Calendar
5/26/2025