Texas 2009 - 81st Regular

Texas House Bill HB2866

Voted on by House
 
Out of Senate Committee
 
Voted on by Senate
 
Governor Action
 
Bill Becomes Law
 

Caption

Relating to encouraging technology-related economic development projects that pay competitive compensation for associated workforce.

Impact

The implications of HB2866 extend to various sectors, particularly in manufacturing, research and development, and energy. It creates a framework for tech companies looking to establish operations in Texas by offering tax incentives for creating jobs that meet specific criteria. By integrating modern economic demands and labor expectations into the state's legislative framework, the bill aligns Texas's economic goals with workforce development, potentially making the state an attractive destination for technology firms.

Summary

House Bill 2866 focuses on promoting technology-related economic development projects within Texas by establishing criteria for eligible jobs associated with such initiatives. The bill amends existing tax code provisions to better define 'qualifying jobs,' emphasizing full-time positions that contribute significantly to the state's economic landscape while ensuring competitive compensation for workers. By encouraging employment growth in technology sectors, the bill aims to foster prosperity and innovation throughout the state.

Contention

While supporters of HB2866 argue that it will enhance job creation and reinforce the state’s position in technology and energy sectors, there may be points of contention regarding how the bill's tax incentives could affect local economies and whether it might inadvertently favor larger corporations over small businesses. Legislators and stakeholders could debate the balance between attracting large firms and ensuring equitable opportunities for smaller entities within the tech ecosystem, as well as concerns over the definition and standards set for qualifying jobs.

Companion Bills

No companion bills found.

Previously Filed As

TX HB2421

Relating to the reenactment of expired provisions of the Texas Economic Development Act.

TX HB3104

Relating to the temporary exemption of certain tangible personal property related to certain connected data center projects from sales and use taxes.

TX SB1265

Relating to the temporary exemption of certain tangible personal property related to certain connected data center projects from sales and use taxes.

TX HB615

Relating to authorizing certain projects to be undertaken by economic development corporations.

TX SB1211

Relating to defense economic readjustment zones.

TX SB1823

Relating to the provision by the Texas Water Development Board of financial assistance for the development of residential drainage projects in economically distressed areas.

TX SB1845

Relating to a franchise tax credit for certain large economic development projects, including certain electric generation facilities.

TX HB5

Relating to agreements authorizing a limitation on taxable value of certain property to provide for the creation of jobs and the generation of state and local tax revenue; authorizing fees; authorizing penalties.

TX HB2482

Relating to the temporary exemption of certain tangible personal property related to data centers from the sales and use tax.

TX SB1143

Relating to the temporary exemption of certain tangible personal property related to data centers from the sales and use tax.

Similar Bills

No similar bills found.