Relating to insurance premium tax credits for the certified rehabilitation of certified historic structures.
Impact
The enactment of HB2393 is expected to have a positive impact on the preservation of historic buildings across Texas. By facilitating financial support for rehabilitation projects, the bill promotes economic development and revitalization of communities that house these structures. Furthermore, it aligns with efforts to protect the cultural heritage of Texas while also providing opportunities for local businesses and developers who engage in historic renovations.
Summary
House Bill 2393 pertains to the provision of insurance premium tax credits for the certified rehabilitation of certified historic structures in Texas. This bill aims to encourage the restoration and rehabilitation of historically significant properties by offering financial incentives in the form of tax credits. Eligible entities can apply for these credits, which amount to 25% of the eligible costs associated with the rehabilitation of such structures, provided they meet specific criteria set by the Texas Historical Commission.
Contention
Despite the general support for preserving historic structures, some concerns have been raised regarding the application process and implementation of the tax credits. Questions about eligibility, particularly relating to the definition of 'certified historic structures' and the required certification process, are points of contention. Additionally, there may be concerns regarding the potential misuse of tax credits, leading to implications for state revenue and the equitable allocation of resources for historic preservation projects.
Relating to the establishment of the Texas Parental Empowerment Program and an insurance premium tax credit for contributions made for purposes of that program.
Relating to the establishment of the Texas Parental Empowerment Program and an insurance premium tax credit for contributions made for purposes of that program.
Relating to the establishment of the Texas Parental Empowerment Program and an insurance premium tax credit for contributions made for purposes of that program.
Relating to the establishment of the Education Savings Account Program to allow certain children to use public money to pursue educational alternatives to public schools and an insurance premium tax credit for contributions made for purposes of that program.