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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) An applicant that is a party to an agreement shall submit a report to the comptroller as required by this section using the form adopted by the comptroller.
(b) An applicant must submit a report required by this section to the comptroller not later than June 1 of each even-numbered year during the term of the agreement that is the subject of the report.
(c) A report required by this section must include the following documents and information applicable to the agreement that is the subject of the report:
(1) a certification by the applicant that is a party to the agreement that the applicant has met the jobs and investment requirements prescribed by the agreement, which must include:
(A) a sworn affidavit stating:
(i) the number of required jobs prescribed by the agreement; and
(ii) the number of required jobs actually created under the agreement as of December 31 of the preceding two years; and
(B) if applicable, payroll records maintained for purposes of 40 T.A.C. Chapter 815;
(2) the number assigned to the application by the comptroller for the agreement, name of the applicant, name of the school district, and name of and contact information for the applicant's representative;
(3) the number of total jobs created by the project in each of the preceding two years;
(4) the total wages paid for total jobs, not including wages paid for construction jobs, in each of the preceding two years;
(5) the number of construction jobs created by the project;
(6) the total amount of the applicant's investment, including any additional amount invested by the applicant after the incentive period begins;
(7) the appraised value of all property composing the project for each previous tax year of the agreement;
(8) the taxable value of all property composing the project for each previous tax year of the agreement;
(9) the amount of school district maintenance and operations ad valorem taxes imposed on the property composing the project and paid by the applicant for each previous tax year of the agreement;
(10) the amount of school district interest and sinking fund ad valorem taxes imposed on the property composing the project and paid by the applicant for each previous tax year of the agreement;
(11) the amount of school district ad valorem taxes that would have been imposed on the property composing the project and paid by the applicant in the absence of the agreement for each previous tax year of the agreement; and
(12) the amount of ad valorem taxes imposed on the property composing the project by each taxing unit other than the school district and paid by the applicant for each previous tax year of the agreement, stated by taxing unit.
(d) This subsection applies only to a report required to be submitted under this section by an applicant for the period that includes the first year of the incentive period as prescribed by the agreement that is the subject of the report or as deferred. In addition to the documents and information described by Subsection (c), the applicant must include with the certification required by Subsection (c)(1):
(1) a list of the property tax account numbers assigned to the property composing the project;
(2) the current total appraised value of the property composing the project; and
(3) if applicable, a statement that the incentive period was deferred because the applicant did not meet the minimum investment requirement prescribed by the agreement before the date specified in the agreement.
Cite this article: FindLaw.com - Texas Government Code - GOV'T § 403.616. Biennial Compliance Report by Applicant - last updated January 01, 2024 | https://codes.findlaw.com/tx/government-code/gov-t-sect-403-616/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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