Purposes

Sec. 403.601. PURPOSES. The purposes of this subchapter are to: (1) create new, high-paying permanent jobs and construction jobs in this state; (2) encourage financially positive economic development in this state; (3) provide a temporary competitive economic incentive for attracting certain large-scale economic development projects to this state that, in the absence of this subchapter, would likely locate in another state or nation; (4) encourage energy and water infrastructure development, including new and expanded dispatchable electric generation facilities; (5) make this state a national and international leader in new and innovative technologies; (6) encourage the establishment of certain advanced manufacturing industry sectors critical to national defense and health care; (7) create new wealth, raise personal income, and foster long-term expansion of state and local tax bases; (8) provide growing and sustainable economic opportunity for the residents of this state; and (9) incentivize the preceding objectives in a balanced, transparent, and accountable manner. Added by Acts 2023, 88th Leg., R.S., Ch. 377 (H.B. 5), Sec. 1, eff. January 1, 2024.