A Tax Exemptions and Tax Incidence Report prepared by Texas Comptroller in November 2018 estimated that school district revenues would decline by about $585 million in 2019, which also indicates that total school district revenues could be reduced by $944 million in 2022 and $1.1 billion in 2024.  Once the certification has been issued by the compleur, the applicant and the school district negotiate a written prescription agreement based on the presentation provided by the Comptroller. An estimated value limitation is an agreement in which a taxpayer agrees to build or install real estate and create jobs in exchange for: take for example the promise to attract high-paying jobs to Texas. Brimer, the author of the program, hoped one day to need 100 high-paying jobs as a condition of an agreement. When his bill was passed in 2001, that number fell to 25 jobs – and only 10 in rural areas. But even this target was too high for some companies, especially wind farms, which do not employ many people. The legislator agreed on a simple solution: districts can give up the employment obligation altogether. The Observer`s review of program records shows that in more than 150 of the agreements today – about half – companies do not even promise to create 10 jobs. Seven agreements promise zero employment. Since 2013, Texas Comptroller has had to decide whether a proposed project likely generates enough government and local tax revenue to offset the tax losses resulting from the limitation agreement within 25 years.
Comptroller`s office also needs to note that the restriction is “a determining factor” in the company`s decision to invest and build in Texas. Without certification, school districts cannot enter into prescription agreements. An estimated value limit is an agreement between a taxpayer and a Texas school district in which the taxpayer proposes to build or install real estate – and create jobs that meet certain employment and wage requirements – in exchange for a 10-year limit on the real estate value of the subject for the tax on the tax on the activity figure . For 10 years, school property taxes are not levied on the value above the amount of the prescription. Prescription amounts are legislated and range from $10 million to $100 million depending on the school district.  Unlike reductions based on a percentage of the value of real estate, the structure of the program mainly benefits extremely important projects. Most of the projects are in the petrochemical or energy sector, although some are typical settings. The minimum qualified investment required and the minimum amount of the value limitation vary across the state of Texas. The question is whether a school district is considered a “rural district” or a “non-rural district” (sub-chapter B) and based on the amount of the value of the taxable land in the school district. Companies applying for a prescription agreement send an application to the school district where the project will be located.
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