SB2322 - Relating to the findings required to be made by the comptroller of public accounts in order to recommend for approval an application for a limitation on the taxable value of eligible property for school district maintenance and operations ad valorem tax purposes under the Texas Jobs, Energy, Technology, and Innovation Act.

      By: King S.B. No. 2322     (Button, Smithee, Plesa, Bell of Kaufman, Longoria)           A BILL TO BE ENTITLED   AN ACT   relating to the findings required to be made by the comptroller of   public accounts in order to recommend for approval an application   for a limitation on the taxable value of eligible property for   school district maintenance and operations ad valorem tax purposes   under the Texas Jobs, Energy, Technology, and Innovation Act.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 403.609(b), Government Code, as added by   Chapter 377 (H.B. 5), Acts of the 88th Legislature, Regular   Session, 2023, is amended to read as follows:          (b)  The comptroller may not recommend an application for   approval unless the comptroller finds that:                (1)  the proposed project that is the subject of the   application is an eligible project;                (2)  the proposed project is reasonably likely to   generate, before the 20th anniversary of the first day of the   construction period, state or local tax revenue, including ad   valorem tax revenue attributable to the effect of the project on the   economy of this state, in an amount sufficient to offset the school   district maintenance and operations ad valorem tax revenue lost as   a result of the agreement;                (3)   for a proposed project other than a facility   described by Section 403.602(8)(A)(i)(b), the agreement is a   compelling factor in a competitive site selection determination and   that, in the absence of the agreement, the applicant would not make   the proposed investment in this state; and                (4)  if the application indicates that the eligible   project is proposed to be located in a qualified opportunity zone,   the project is located in the zone.          SECTION 2.  The change in law made by this Act applies only   to an agreement entered into under Subchapter T, Chapter 403,   Government Code, as added by Chapter 377 (H.B. 5), Acts of the 88th   Legislature, Regular Session, 2023, pursuant to an application   submitted under that subchapter on or after the effective date of   this Act.          SECTION 3.  This Act takes effect September 1, 2025.