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TX SB489
Bill
Status
11/22/2024
Primary Sponsor
Borris Miles
Click for details
AI Summary
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Requires businesses seeking property tax limitations for school district maintenance and operations to provide child care benefits to full-time employees at the project site as a condition of the tax incentive agreement
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Employers must offer one of three child care options: an on-site licensed child-care center operated by the employer, child care through a contracted licensed child-care center, or payment of at least 50% of employees' child care costs
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The child care benefit requirement applies only after the project creates 100 or more required jobs, beginning January 1 of the tax year following that milestone
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Applies only to new tax limitation agreements entered into on or after September 1, 2025; existing agreements are not affected
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Effective date is September 1, 2025
Legislative Description
Relating to a requirement that a person provide or contribute to the cost of child care for the person's employees in order to be eligible to receive a limitation on the taxable value of the person's property for school district maintenance and operations ad valorem tax purposes.
State Finances
Last Action
Referred to Economic Development
2/3/2025