Prior to the adoption of Section 52-a, Article III, Texas Constitution in 1987, counties were prohibited from using public funds for economic development. Thereafter, the legislature approved Chapter 312, Tax Code for tax abatement agreements and Chapter 381, Local Government Code for general economic development grants and loans in 1987. These statutes have been the subject of … [Read more...] about Evaluation of Economic Development Programs
Abatements
The Effects of Revenue Caps and Inflation on Tax Abatements
Since 1987, Section 51-a, Article III, of the Texas Constitution and Chapter 312, Tax Code have authorized counties to engage in economic development through tax abatement agreements. The purpose of these agreements is to encourage additional investment and employment within the county. Tax abatement agreements waive the property taxes on new investment for all or a percentage … [Read more...] about The Effects of Revenue Caps and Inflation on Tax Abatements