Intel nearly built a massive chip fabrication plant near Fort Worth in 1991, but the tech giant instead picked Arizona because Texas property taxes were too high. Two years later, Texas lawmakers reacted by creating Chapter 313, also known as the Texas Economic Development Act, to offer property tax breaks to major companies that locate new facilities in the state.
Since then, oil refineries, petrochemical factories and even the upcoming Tesla plant outside Austin have enjoyed massive breaks on their property taxes thanks to the program. Today, Chapter 313 agreements account for almost a billion dollars in tax breaks for some of the largest companies in Texas.
Texas education officials will release $11.2 billion in federal coronavirus relief money to help public schools address the far-reaching effects of the coronavirus pandemic, Gov. Greg Abbott said Wednesday.
The money is part of the $1.9 trillion COVID-19 economic relief package championed by President Joe Biden and Democrats in Congress. Biden signed it into law March 11, and many states already had begun distributing their share of the money for schools.
Abbott said in a statement the one-time funds will support a comprehensive learning recovery effort in Texas over the next three years.
It comes in addition to the expected continued boost in state public school funding approved two years ago.
Now that part of the money has been released, superintendents are writing up their wish lists. Author: Almiya White (KBMT), KBMT (12NewsNow) Published: 11:25 PM CDT April 28, 2021 Updated: 11:25 PM CDT April 28, 2021
PORT ARTHUR, Texas The education system has been through a lot in the last year, including losing a ton of money because of coronavirus-related problems.
Texas officials secured $17.9 billion through two federal coronavirus relief packages, but until Wednesday, school officials and lawmakers say schools hadn t seen a dime.
Educators have been demanding more money to properly support their students and on their wish was granted.
“It s a huge relief. I think every superintendent in Texas will be able to sleep calmly softly tonight,” Port Arthur Superintendent Dr. Mark Porterie.
Taking time out from his continuing barrage of criticism aimed at President Biden and how he’s handling immigration and the border, Texas Governor Greg Abbott Wednesday announced that the state is finally releasing $11.2 billion in one-time federal stimulus money for the state’s public schools.
Making the announcement along with Lieutenant Governor Dan Patrick, and Speaker Dade Phelan, Abbott said the funds will be applied over the next three years under grants overseen by the Texas Education Agency. Beyond that, there’s still another $7 billion in federal stimulus money, with still no word from the state about how that will be applied.
Credit: Allie Goulding/The Texas Tribune
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Intel nearly built a massive chip fabrication plant near Fort Worth in 1991, but the tech giant instead picked Arizona because Texas property taxes were too high. Two years later, Texas lawmakers reacted by creating Chapter 313, also known as the Texas Economic Development Act, to offer property tax breaks to major companies that locate new facilities in the state.
Since then, oil refineries, petrochemical factories and even the upcoming Tesla plant outside Austin have enjoyed massive breaks on their property taxes thanks to the program. Today, Chapter 313 agreements account for almost a billion dollars in tax breaks for some of the largest companies in Texas.