Texas Government Code 2303.4071 – Maximum Tax Refund
Current as of: 2024 | Check for updates
|
Other versions
(a) In this section:
(1) “Double jumbo enterprise project” and “triple jumbo enterprise project” have the meanings assigned by § 2303.407.
(2) “Half enterprise project” means an enterprise project split into two half designations as provided by § 2303.406(d-1).
(b) An enterprise project is eligible for a maximum refund of $250,000 in each state fiscal year.
Terms Used In Texas Government Code 2303.4071
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Year: means 12 consecutive months. See Texas Government Code 311.005
(c) A double jumbo enterprise project is eligible for a maximum refund of $500,000 in each state fiscal year.
(d) A triple jumbo enterprise project is eligible for a maximum refund of $750,000 in each state fiscal year.
(e) A half enterprise project is eligible for a maximum refund not to exceed $125,000 in each state fiscal year and is subject to the capital investment and job allocation requirements under § 2303.407(b)(1), (2), or (3).