The Texas Economic Development Act/Chapter 313 is designed to encourage large-scale manufacturing, research and development, renewable energy, nuclear and integrated gasification combined cycle electric generation facilities and other large capital investment project in the State of Texas. It requires companies to invest a specified amount of money to qualify for a ten year limitation on the appraised value of a property for the maintenance and operations portion of the school district propter tax. The local school district must elect to participate in order for the company to recognize this benefit The Act also requires that the limitation on appraised value be a determining factor on the application decision to invest capital and construct the project in the state and requires that the Comptroller state in writing the basis for the determination.
