Texas SB2747 limits the amount of tax rebates, grants, or loans municipalities can offer businesses relocating within the state.

Texas SB2747 amends the Tax Code to impose limits on tax incentives offered by municipalities to businesses relocating within the state. Specifically, the bill applies to agreements where a business relocates to a new municipality and the municipality provides a rebate, grant, or loan based on municipal sales and use taxes. The amount of these incentives cannot exceed the weighted average of similar incentives from the municipalities the business is leaving, based on tax revenue collected.

Texas SB2747 limits the amount of tax rebates, grants, or loans municipalities can offer businesses relocating within the state.

Texas SB2747 amends the Tax Code to impose limits on tax incentives offered by municipalities to businesses relocating within the state. Specifically, the bill applies to agreements where a business relocates to a new municipality and the municipality provides a rebate, grant, or loan based on municipal sales and use taxes. The amount of these incentives cannot exceed the weighted average of similar incentives from the municipalities the business is leaving, based on tax revenue collected.