Texas' new tax incentive program is designed to keep it competitive in attracting...
Lone Star NGL facility in Mont Belvieu, where many facilities have received property tax breaks under the Chapter 313 program.On the day after Easter, a holiday celebrated for a notable resurrection, a bill to bring back an expired corporate tax incentive program was quietly given new life.
We truly wish that were true. Tax incentives done smartly can be a good deal for Texans but not when there are few protections against abuse and waste. That, after all, is why lawmakers killed Chapter 313 last session., sponsored by state Rep. Todd Hunter, R-Corpus Christi, simply repeats the sins of the past and, in some ways, commits new ones.
The core problem with Chapter 313 was that it lacked the safeguards to ensure that tax incentives were needed or that companies actually created the jobs and economic benefits they promised. House Bill 5 makes some subtle improvements on that front, but with poor trade-offs that could lead to lower-quality jobs overall.
and required health insurance, the new wage standard is 100 percent of the local average wage for all jobs with no benefits required. Additionally, projects that qualify under the “grid reliability” category – such as new natural gas plants – are exempt from any requirements related to jobs, investment or the possibility that the project could go elsewhere.
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