Under current law, the ability of local governments to offer tax abatements or limitations is drawing to a close. The Property Redevelopment and Tax Abatement Act, also known as Chapter 312 of the Texas Tax Code, allows cities, counties, and various special purpose districts to offer tax abatements to certain businesses. It will expire this year unless it is renewed.
Similarly, Subchapters B and C of the Texas Economic Development Act, also known as Chapter 313 of the Texas Tax Code, allow school districts to offer property tax limitations to certain businesses. They will expire in 2022 unless they are renewed.
Several bills would renew both chapters. Instead, they should be allowed to expire in 2019 and 2022, respectively.