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Texas Tax Code

§ 151.429 — TAX REFUNDS FOR ENTERPRISE PROJECTS

TX § 151.429Title 2. STATE TAXATION · Part E. SALES, EXCISE, AND USE TAXES · Ch. 151. LIMITED SALES, EXCISE, AND USE TAX · Art. I. REPORTS, PAYMENTS, AND METHODS OF REPORTING

Statute text

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(a)An enterprise project is eligible for a refund in the amount provided by this section of the taxes imposed by this chapter on purchases of all taxable items purchased for use at the qualified business site related to the project or activity.
(b)Subject to the limitations provided by Subsection (c) of this section, an enterprise project qualifies for a refund of taxes under this section based on the amount of capital investment made at the qualified business site, the project's designation level, and the refund per job with a maximum refund to be included in a computation of a tax refund for the project. A capital investment at the qualified business site of:
(1)$40,000 to $399,999 will result in a refund of up to $2,500 per job with a maximum refund of $25,000 for the creation or retention of 10 jobs;
(2)$400,000 to $999,999 will result in a refund of up to $2,500 per job with a maximum refund of $62,500 for the creation or retention of 25 jobs;
(3)$1,000,000 to $4,999,999 will result in a refund of up to $2,500 per job with a maximum refund of $312,500 for the creation or retention of 125 jobs;
(4)$5,000,000 or more will result in a refund of up to $2,500 per job with a maximum refund of $1,250,000 for the creation or retention of 500 jobs, except as provided by Subdivision (5) or (6);
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Legislative history

Acts 2007, 80th Leg., R.S., Ch. 1114 (H.B. 3694), Sec. 20, eff. June 15, 2007. Acts 2011, 82nd Leg., R.S., Ch. 179 (S.B. 977), Sec. 2, eff. May 28, 2011. Acts 2013, 83rd Leg., R.S., Ch. 490 (S.B. 1719), Sec. 3, eff. June 14, 2013. Acts 2015, 84th Leg., R.S., Ch. 227 (H.B. 1964), Sec. 3, eff. May 29, 2015. Acts 2015, 84th Leg., R.S., Ch. 591 (S.B. 100), Sec. 11, eff. September 1, 2015. Acts 2015, 84th Leg., R.S., Ch. 591 (S.B. 100), Sec. 12, eff. September 1, 2015.