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Texas Statutes (Last Updated: January 4, 2014) |
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TAX CODE |
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Title 3. LOCAL TAXATION |
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Subtitle B. SPECIAL PROPERTY TAX PROVISIONS |
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Chapter 313. TEXAS ECONOMIC DEVELOPMENT ACT |
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Subchapter A. GENERAL PROVISIONS |
Sec. 313.003. PURPOSES
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The purposes of this chapter are to:
(1) encourage large-scale capital investments in this state, especially in school districts that have an ad valorem tax base that is less than the statewide average ad valorem tax base of school districts in this state;
(2) create new, high-paying jobs in this state;
(3) attract to this state new, large-scale businesses that are exploring opportunities to locate in other states or other countries;
(4) enable local government officials and economic development professionals to compete with other states by authorizing economic development incentives that meet or exceed incentives being offered to prospective employers by other states and to provide local officials with an effective means to attract large-scale investment;
(5) strengthen and improve the overall performance of the economy of this state;
(6) expand and enlarge the ad valorem property tax base of this state; and
(7) enhance this state's economic development efforts by providing school districts with an effective local economic development option.