Texas House OKs revised corporate tax breaks to replace Chapter 313

The Texas House has approved the Texas Jobs and Security Act, moving a statewide school property tax incentives program that revives elements of a controversial predecessor one step closer to implementation. Proponents say the bill is needed to keep Texas competitive for large corporate projects, and point to companies such as Tesla Inc. and Samsung Electronics Co. Ltd. using Chapter 313 to set up large facilities in the Austin area. Opponents have argued that it revives “corporate welfare” program that was defeated by a bipartisan coalition in the last legislature.