Texas Economic Development Act: The end of a good thing?

Instituted in 2001, the Texas Economic Development Act (also referred to as Tax Code Chapter 313) created a state tax incentive program that allowed certain corporations and large businesses to apply for a 10-year limitation on the taxable property value for school district maintenance and operations tax (M&O) purposes in exchange for building or installing property and creating jobs.

This incentive has been instrumental in attracting corporate investment from the oil and gas industries and others…