{"data":{"id":"us-tx/tex.-tax-code-313.002","jurisdiction":"us-tx","citation":"Tex. Tax Code § 313.002","heading":"FINDINGS.","body":"The legislature finds that:\n(1) many states have enacted aggressive economic development laws designed to attract large employers, create jobs, and strengthen their economies;\n(2) given Texas' relatively high ad valorem taxes, it is difficult for the state to compete for new capital projects without temporarily limiting ad valorem taxes imposed on new capital investments;\n(3) a significant portion of the Texas economy continues to be based in manufacturing and other capital-intensive industries, and their continued growth and overall health serve the Texas economy well;\n(4) without a vibrant, strong manufacturing sector, other sectors of the economy, especially the state's service sector, will also suffer adverse consequences; and\n(5) the current ad valorem tax system of this state does not favor capital-intensive businesses such as manufacturers.\nAdded by Acts 2001, 77th Leg., ch. 1505, Sec. 1, eff. Jan. 1, 2002.\nAmended by:\nActs 2013, 83rd Leg., R.S., Ch. 1304 (H.B. 3390), Sec. 1, eff. January 1, 2014.","path":["TAX CODE","TITLE 3. LOCAL TAXATION","SUBTITLE B. SPECIAL PROPERTY TAX PROVISIONS","CHAPTER 313. TEXAS ECONOMIC DEVELOPMENT ACT","SUBCHAPTER A. GENERAL PROVISIONS"],"source_url":"https://statutes.capitol.texas.gov/Docs/TX/htm/TX.313.htm#313.002","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:41Z","sha256":"b9008d336913e6dbcc14a8e9611f30b854f63a17c9f6abded33d0da286216764","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-tax-code-313.001","next":"us-tx/tex.-tax-code-313.003"},"notice":"GroundRules: Original legal text. Not legal advice."}