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2011 LCRA Open House

Economic Development Tax Programs and Incentives

December 16, 2011

Presented by:

Julie Rabeux Manager, Economic Development & Analysis

Texas Comptroller of Public Accounts

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Economic Development & Analysis

Previously: Local Government Assistance and Analysis

Division focus:

• provide Economic Development and technical assistance to local governments, chambers, and ED entities on tax programs and incentive support

• job creation initiatives

• economic impact analysis

• financial transparency

• budgeting and purchasing efficiencies

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Economic Development & Analysis

Rural Initiative

EDA provides economic development and technical assistance to fit the needs of rural communities in Texas.

We specialize in subjects ranging from:• tax programs and incentive support;• job creation initiatives; • economic impact analysis; • financial transparency; • limiting financial exposure • budgeting and purchasing efficiencies.

The rural initiative provides local government officials and economic developers a team of analysts who can provide technical assistance on a variety of issues related to state and local tax programs, financial management, and federal, state, and local economics.

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Tax Programs and Incentives

• Sales Tax Programs:

Type A / Type B New: Online Tutorial, Project Map

Municipal Development Districts Manufacturing Exemptions

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Tax Programs and Incentives

• Property Tax Programs:Property Tax Abatements

Tax Increment Financing

Freeport and Goods in Transit Exemption

Chapter 313 – Value Limitation and Tax Credits

• Event Trust FundsTexas’ event trust fund programs help its communities offset

the costs of hosting sporting and non-athletic events.

• Other programsHotel Occupancy Tax

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Local Government Transparency

Texas Comptroller Leadership Circle Program

• Launched in December 2009

• Cities, Counties, School Districts

and Special Districts

• Voluntary Participation

• Self Scored (with CPA verification)

• Gold, Silver or Bronze certificates

• Certification is for one year, then must reapply

• NEW Monthly Community Spotlight

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Leadership Circle Program

Financial Transparency: Recommended Documents

• Annual Budget

• Annual Audited Report

• Expense/Check Register *Two of the three recommended documents are only updated annually which means less work time for auditors

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Leadership Circle Award Levels

BRONZE - Any 2 of the documents 

SILVER - Any 2 of the documents + ‘financial transparency’ Web page

 GOLD - All 3 documents + ‘financial transparency’

Web page

Financial Transparency Web Page = One Web page where users can find all recommended documents and any other relevant information.

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Other resources for local governments?

Budgeting Manuals for Texas Cities and Counties

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Purchasing Manual

Model Purchasing Manual for Cities and Counties

• Understand the competitive bidding process

• How to evaluate bidder qualifications

• Learn how to stretch your dollars with cooperative purchasing opportunities

• Electronic procurement and reverse auctions

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Funding Opportunities

JET- Equipment Fund

Job Building Fund

The job building fund provides grants to community colleges to support building and equipment demands for high-growth industries throughout the state in an era of rapidly increasing

enrollment.

Who Qualifies: Texas public community colleges or technical institutes.

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JET- Equipment Fund

• 44 community colleges and technical schools have bought state-of-the-art equipment in the past two years to train students for a wide range of high-demand careers

• The state’s investment in 61 programs, was matched by local dollars that will train more than 8,200 students annually.

• The training on JET-funded equipment will bring tangible financial benefits to every successful student and their families; on average, students should annually earn $17,663 more than they would with no postsecondary education

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SECO Programs

• Texas LoanStar Program• More than $240 million in loans have

gone to state agencies, school districts, colleges and universities, local governments and hospitals to finance building modifications designed to save energy.

• Energy Conservation Funding & Incentives

• Pollution Mitigation Program

• Solar Energy for Schools

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www.TexasAhead.org

Economic Outlook

Refreshed weekly data on: Jobs, Housing, Consumer Confidence, Oil & Natural Gas, and Stimulus activities

TexasEdge Tool

http://www.texasahead.org/texasedge/

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Web and Multi Media Resources

Websites Texas Ahead: www.TexasAhead.org

New page dedicated to Rural Initiative: www.TexasAhead.org/rural

GovDelivery Sign up for topic specific emails through our

govdelivery system

Social Media Facebook and Twitter

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Questions?

Julie Rabeux Economic Development & Analysis

Texas Comptroller of Public Accounts_______________________________

Julie.Rabeux@cpa.state.tx.us(512) 475-5601