Commissioners Court - Regular

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AI-3434 4.A.2.       
Meeting Date: 06/27/2012  
Tax Abatement Guidelines
Submitted By: Steve Waterman, Commissioners Court Admin
Department: Commissioners Court Admin  

Discuss and consider adoption of a resolution approving Nueces County Guidelines and Criteria for Granting Tax Abatements.

The Commissioners Court last adopted Guidelines and Criteria for Granting Temporary Property Tax Abatements in January 2010.  Under the Chapter 312 of the Texas Tax Code such Guidelines and Critera remain in effect for only two years.

The Guidelines and Criteria for Granting Temporary Property Tax Abatements have expired and, as such, new Guidelines and Criteria are being proposed which include a change from the previous Guidelines and Criteria.  Specifically, the proposed gudelines add a new provision for a Basic Manufacturing or Service Facility which provides at least $750 million in new capital imvestment, and at least 200 net new full time jobs.  Companies meeting this criteria will receive 100% abatement for up to three (3) years of construction, and 70% abatement for an additional seven (7) years of operations. 

The primary change is for providing $750 million in new capital imvestment and at least 200 net new full time jobs the company will receive an additonal two (2) years abatement at 70%.  The number of full time jobs must meet or exceed 200 for all seven (7) years of operating abatement at 70%

Attached are a black-lined draft and final draft of the proposed Guidelines and Critera.

Budget Information
Information about available funds
Budgeted: Funds Available: Adjustment: Amount Available:
Unbudgeted: Funds NOT Available: Amendment:
Account Code(s) for Available Funds
Fund Transfers
Tax Abatement Resolution - June 2012
Black-lined Guidelines
Guidelines - smooth


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