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From the Texas Association of Business As of September 1, hundreds of new state laws went into effect impacting every industry in Texas. We will focus on legislation passed which has an immediate impact on economic development, education & workforce, and general business. Economic Development: TAB led the charge for growing jobs and building our tax base, which is critical as Texas continues to increase its demand for services and infrastructure. The passing of our biannual budget and the reauthorization of Chapter 312 are significant tools that will continue to help our communities remain competitive against the rest of the nation. HB 1- Biannual Budget The passed budget contains $250 billion in all funds. TAB is pleased with the economic development incentives that are in the bill, including funding for the: Texas Enterprise Fund, Moving Image Industry Program, Tourism and Texas Commission for the Arts. For a breakdown of how the $250 billion is distributed, please click here. HB 3143- Chapter 312 This bill extends the Chapter 312 tax abatement program, which allows cities and counties to grant temporary property tax exemptions on new capital investments until Sept. 2029. Additionally, this bill adds more transparency by requiring a more detailed public notice and a 30-day minimum notice before scheduling a public meeting to approve the agreement. Education & Workforce: TAB is proud to have been a part in the fight for putting more emphasis on our state’s workforce by strengthening our public-school system. The passage of public-school finance reform will increase school funding in two critical areas – teacher pay and funding for full-day Pre-K programs – by ultimately investing in Texas’ future. HB 3- School Finance The $11.6 billion school finance measure contains $6.5 billion in new public education funding and $5.1 billion for property tax reductions. It also includes TAB priorities of new money for teacher pay raises and full-day Pre-K funding for eligible four-year-olds (SB 1679 by West). HB 700- Skills Development Fund Expands the use of the Skills Development Fund to local workforce development boards and allows existing eligible entities to continue to provide customized skills training solutions to Texas employers across the state. HB 1 increases funding for this program. HB 2784- Workforce Grant Program Creates the Texas Industrial Workforce Apprentice Grant Program to encourage the private sector to develop apprenticeship programs in conjunction with the Texas Workforce Commission. General Business: SB 615- Insurance- TWIA, Texas Windstorm Insurance Association (TWIA) sunset bill will improve the operations and functions of the TWIA. The law establishes an automatic renewal process and allows policyholders to pay premiums in installments, and the ability to accept credit card payments. Other charges with this law consistent with across-the-board Sunset recommendations. For further information on wins and losses with the 86th Legislative Sessions, please click here.