Friday, May 5, 2023
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FOR IMMEDIATE RELEASE
May 5, 2023
Coalition of Texas School Districts Applauds House Passage of Texas Jobs & Security Act House Bill 5 passes 120-24 on Third Reading
AUSTIN, TX – (May 5, 2023) – A coalition representing more than 700 Texas school districts commended state representatives for passing the Texas Jobs & Security Act, also known as House Bill 5, to create a state economic development program.
“Today, the House of Representatives took crucial action to help secure the economic future of our state by passing HB 5. This bill will ensure the success of our public schools, which depend on the jobs and revenue that business investments bring to their local communities and the state economy,” said H.D. Chambers, Executive Director of Texas School Alliance. “We urge our senators to send this legislation to Gov. Abbott’s desk and help Texas create new job opportunities, attract investments, generate tax revenue, support schools and maintain its position as the best place in the country to live and work.”
HB 5, introduced by Chairman Todd Hunter, R-Corpus Christi, allows school districts to grant property tax limitations to certain businesses that invest more than $1 billion in that district. Manufacturing, power grid reliability, supply chain infrastructure and national & state security projects all qualify for the incentive program. However, renewable energy was excluded from the bill.
“While Texas school districts are supportive of including renewable energy in Texas’ economic development program, we appreciate our representatives taking on the broader issue to bolster Texas’ position as a leader in the global marketplace,” said Chambers. “When school districts have the ability to grant property tax limitations, they can attract new companies to the area, increasing economic development and job opportunities.”
The coalition, which includes the Fast Growth School Coalition, Texas School Alliance, and the Texas Association of Midsize Schools, among others, praised the transparency requirements included in HB 5 that will provide taxpayers with information about how investment money is used, the number of jobs created and the full economic impact on their communities.
Providing an economic development incentive through HB 5 will support Texas investments in high-demand industries, improve public schools and foster economic growth across the state. Friday, state representatives approved the bill on the third reading with a bipartisan vote of 120-24. It now heads to the Senate.
Media Contact:
Jennifer Kendall
480-518-5075 jkendall@themach1group.com
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