Texas Lawmakers Approve Revival of Expired Corporate Tax Break

Texas lawmakers sent the governor a compromise plan Tuesday to restore, with revisions, an expired tax break that gave steep property tax breaks to businesses planning new construction in the state.

As their contentious regular session drew to a close Monday, lawmakers voted for a bill (HB 5) to replace a roughly two-decade-old economic development program known as Chapter 313. That incentive, which attracted projects from companies such as Samsung and Tesla Inc., focused on incentivizing renewable energy and manufacturing projects with property tax abatements until lawmakers didn’t renew it, and it officially ended Dec. ...