Austin, TX — As the Texas State Chamber, The Texas Association of Business (TAB) today released a statement thanking the Texas Senate for passing CSHB 5 (27-4), The Texas Jobs and Security Act by Chairman Todd Hunter:
“We thank Lt. Governor Dan Patrick and Chairman Charles Schwertner for working to keep Texas no. 1 for job creation,” said TAB CEO Glenn Hamer. “This bill sends a clear message that Texas means business when it comes to competing for multi-billion-dollar manufacturing projects, and TAB will continue working alongside Senate leadership, Speaker Dade Phelan, and Chairman Todd Hunter to craft a final bill that Governor Greg Abbott can sign.”
Passage of CSHB 5 moves us closer to establishing an accountable economic development incentive program to help win jobs and investments for Texas communities. In passing this legislation, both chambers have demonstrated they recognize the need for an incentive program to ensure Texas remains the number one place to do business. CSHB 5 now heads back to the House with amendments.
TAB is one of over 260 organizations, including more than 100 chambers of commerce, that support passage of a modernized, transparent and temporary property tax abatement for transformative economic development projects. Such tools are must haves for Texas to compete and continue to win large capital-intensive projects, such as semiconductor facilities, that generate high-paying jobs and long-term revenue for communities.