TITLE: Relating to the establishment of an online information and application system for state and local incentives for economic development purposes.

SUMMARY: Relating to the establishment of an online information and application system for state and local incentives for economic development purposes.

FULL TEXT:
AN ACT relating to the establishment of an online information and application system for state and local incentives for economic development purposes. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. The heading to Subchapter E, Chapter 481, Government Code, is amended to read as follows: SUBCHAPTER E. ECONOMIC [BUSINESS] DEVELOPMENT--GENERAL PROVISIONS SECTION 2. Subchapter E, Chapter 481, Government Code, is amended by adding Section 481.081 to read as follows: Sec. 481.081. ECONOMIC DEVELOPMENT INCENTIVE WEBSITE. (a) In this section: (1) "Local government" means a county, municipality, special district, school district, junior college district, or other political subdivision of the state. (2) "Monetary incentive" means a grant, loan, or other form of monetary incentive paid from state or local government revenues that a business entity or other person may receive in exchange for or as a result of conducting an activity with an economic development purpose. (3) "State agency" means a department, commission, board, office, council, authority, or other state agency in the executive branch of state government. (4) "Tax incentive" means any exemption, deduction, payment, credit, exclusion, waiver, rebate, discount, deferral, or other abatement or reduction of state or local government tax liability of a business entity or other person that the person may receive in exchange for or as a result of conducting an activity with an economic development purpose. (b) The office of the governor shall develop and maintain an Internet website that: (1) provides a single location that a business entity or other persons considering relocating to or expanding in this state may use to receive information relating to state and local government monetary and tax incentives for which the business entity or other person may be qualified; (2) allows, when feasible, the business entity or other person to fill out one application for all state and local government monetary and tax incentives for which the person may be eligible; and (3) allows, when feasible, for the application to be submitted to each state agency or local government that offers the monetary or tax incentive for which the business entity or other person may be eligible. SECTION 3. This Act takes effect September 1, 2015.