Texas Comptroller's Office

Texas Comptroller's Office

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  2011 LCRA OpenHouse Economic Development Tax Programs and Incentives December 16, 2011 Presented by: Julie Rabeux Manager, Economic Development & Analysis Texas Comptroller of Public Accounts 1
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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 2
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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. 3
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  Tax Programs andIncentives • Sales Tax Programs: Type A / Type B New: Online Tutorial, Project Map Municipal Development Districts Manufacturing Exemptions 4
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  Tax Programs andIncentives • Property Tax Programs: Property Tax Abatements Tax Increment Financing Freeport and Goods in Transit Exemption Chapter 313 – Value Limitation and Tax Credits • Event Trust Funds Texas’ event trust fund programs help its communities offset the costs of hosting sporting and non-athletic events. • Other programs Hotel Occupancy Tax 5
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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 6
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  Leadership Circle Program FinancialTransparency: 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 7
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  Leadership Circle AwardLevels 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. 8
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  Other resources forlocal governments? Budgeting Manuals for Texas Cities and Counties 9
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  Purchasing Manual Model PurchasingManual 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 10
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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. 11
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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 12
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  SECO Programs • TexasLoanStar 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 13
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  www.TexasAhead.org 14
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  Economic Outlook  Refreshedweekly data on: Jobs, Housing, Consumer Confidence, Oil & Natural Gas, and Stimulus activities
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  TexasEdge Tool http://www.texasahead.org/texasedge/
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  Web and MultiMedia 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 17
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  Questions? Julie Rabeux Economic Development & Analysis Texas Comptroller of Public Accounts _______________________________ [email protected] (512) 475-5601 18