Text of section effective on January 01, 2024

Sec. 403.617.  BIENNIAL REPORT TO LEGISLATURE.  (a)  The comptroller shall submit to the lieutenant governor, the speaker of the house of representatives, and each other member of the legislature a report on the agreements entered into under this subchapter.  The comptroller must submit the report not later than December 1 of each even-numbered year.
(b)  The report must include:
(1)  an assessment of the following with regard to the agreements entered into under this subchapter, considered in the aggregate:
(A)  the total number of jobs created in this state;
(B)  the total effect on personal income in this state;
(C)  the total amount of investment in this state;
(D)  the total taxable value of property on the tax rolls in this state resulting from the agreements, including property subject to an agreement that has expired;
(E)  the total value of property subject to agreements that have not expired; and
(F)  the total fiscal effect resulting from the agreements on this state and on local governments in this state; and
(2)  an assessment of each agreement entered into under this subchapter that states for each agreement:
(A)  the number of required jobs prescribed by the agreement;
(B)  the number of jobs actually created under the agreement, including:
(i)  each job described by Section 403.604(c)(1)(A);
(ii)  each job described by Section 403.604(c)(1)(B); and
(iii)  any additional jobs created or maintained in connection with the project that is the subject of the agreement, if reported by the applicant;
(C)  the number of total jobs created under the agreement, if the term of the agreement has expired;
(D)  the amount of the investment specified by the agreement;
(E)  the amount of the actual investment made for the applicable project before the expiration of the agreement;
(F)  the difference between the amount of ad valorem taxes that would have been imposed on the property composing the applicable project in the absence of the agreement and the amount of ad valorem taxes actually imposed on that property during the term of the agreement; and
(G)  the total amount of state and local tax revenue attributable to the applicable project during the term of the agreement.
(c)  The comptroller may not include in the report information that is confidential under law.
(d)  The comptroller may use standard economic estimation techniques, including economic multipliers, to prepare the portion of the report described by Subsection (b)(1).
(e)  The comptroller may require an applicant to submit information required to complete the report on a form prescribed by the comptroller.
Added by Acts 2023, 88th Leg., R.S., Ch. 377 (H.B. 5), Sec. 1, eff. January 1, 2024.