TTARA supports tax and economic development incentives to attract investment and stimulate job growth in Texas. The heavy reliance on sales and property taxes requires these incentives to ensure that businesses continue to locate and expand their operations in the state.
Specifically, TTARA supports the continuation of Tax Code Chapter 312 that authorizes counties, cities, and special districts to offer temporary abatements of property taxes on new investments. It also supports the continuation and simplification of Tax Code Chapter 313 that allows school districts to offer temporary limitations on the taxable value of new investments. These economic development tools are designed to assist local governments attract and retain businesses in their communities.