Tex. Tax Code § 313.002
This is the official text of Tex. Tax Code § 313.002, part of Texas’s Tax Code — governs state and local taxation.
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§ 313.002. FINDINGS.
Official statutory text
The legislature finds that:
(1) many states have enacted aggressive economic development laws designed to attract large employers, create jobs, and strengthen their economies;
(2) given Texas' relatively high ad valorem taxes, it is difficult for the state to compete for new capital projects without temporarily limiting ad valorem taxes imposed on new capital investments;
(3) a significant portion of the Texas economy continues to be based in manufacturing and other capital-intensive industries, and their continued growth and overall health serve the Texas economy well;
(4) without a vibrant, strong manufacturing sector, other sectors of the economy, especially the state's service sector, will also suffer adverse consequences; and
(5) the current ad valorem tax system of this state does not favor capital-intensive businesses such as manufacturers.
(1) many states have enacted aggressive economic development laws designed to attract large employers, create jobs, and strengthen their economies;
(2) given Texas' relatively high ad valorem taxes, it is difficult for the state to compete for new capital projects without temporarily limiting ad valorem taxes imposed on new capital investments;
(3) a significant portion of the Texas economy continues to be based in manufacturing and other capital-intensive industries, and their continued growth and overall health serve the Texas economy well;
(4) without a vibrant, strong manufacturing sector, other sectors of the economy, especially the state's service sector, will also suffer adverse consequences; and
(5) the current ad valorem tax system of this state does not favor capital-intensive businesses such as manufacturers.
Status: in_force · Read it on the official government site
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