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 Nov 2014 | 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 set of deals, designated as agreements #376, 377, and 378, was reached between the Sabine Pass school district and Golden Pass Products LLC on November 3, 2014. At issue is a facility for the manufacture of goods falling within code 325120 of the North American Industry Classification System (i.e., hydrogen, acetylene, etc. manufacturing). According to the Texas Comptroller of Public Accounts, the estimated total gross tax benefit to the company resulting from this agreement amounts to $797,003,200 over an eleven-year period.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

342 Basic inorganic chemicals n.e.c.
2804 Hydrogen, rare gases and other nonmetals.
280410 Hydrogen
280421 Argon
280429 Other
280440 Oxygen
280450 Boron; tellurium
280461 Containing by weight not less than 99.99 % of silicon
280469 Other
280470 Phosphorus
280490 Selenium

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