Capital-intensive businesses relocating to Texas or expanding here would face greater scrutiny to qualify for school property tax breaks under the Senate’s version of House Bill 3390 that passed Tuesday night.
The Texas Economic Development Act reduces school property taxes up to 90 percent for companies such as Samsung Electronics in Austin and Toyota Motor Works in San Antonio _ as well as wind farms _ to help recruit them. The tax breaks last 10 years.
The story you’re reading is premium content from the Austin American-Statesman. Subscribers get total access to all our in-depth news, digital editions and exclusive premium content. You can also buy a 24-hour digital pass or 7-day digital pass.
Read MyStatesman.com now — 24-hour digital pass99¢ for 24-hours
Read MyStatesman.com all week — 7-day digital pass$3.99 for 7-days
Subscribe to the Statesman for as little as 33¢ per dayView Offers
For Subscribers: Register your account for digital access.Access Digital
For Subscribers: Sign in here if you have already registered your account.Sign In