IMPLEMENTATION LEVEL

Subnational

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 03 Apr 2012 | Removal date: open ended
Still in force

Tax or social insurance relief

The Texas Economic Development Act (Chapter 313 of the Tax Code) provides for the extension of investment incentives manufacturers and others through tax abatements. The law allows school districts to attract new taxable property development by offering a value limitation on the appraised value of the property for the maintenance and operations portion of the school district’s property tax.

One such deal, designated as Agreement #215, was reached between the Brazosport school district and Dow Chemical Company on April 3, 2012. At issue is a facility for the manufacture of goods falling within code 325 of the North American Industry Classification System (i.e., chemical manufacturing). According to the Texas Comptroller of Public Accounts, the estimated total gross tax benefit to the company resulting from this agreement amounts to $221,019,008 over an eleven-year period.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

334 Petroleum gases & other gaseous hydrocarbons, except natural gas
2711 Petroleum gases and other gaseous hydrocarbons.
271114 Ethylene, propylene, butylene and butadiene

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