Bill > HB4022

This bill modifies several provisions of the Texas Jobs, Energy, Technology, and Innovation Act, primarily affecting economic development agreements between the state, school districts, and businesses seeking incentives. The key changes include reducing the economic benefit statement projection period from 25 to 20 years, adding requirements for the comptroller to review and post certain information about proposed projects, and modifying job and wage requirements for applicants. Specifically, for most projects (except certain electric generation facilities), the bill requires that the average annual wage for jobs created must be at least 110 percent of the industry sector's average wage, with a new method for calculating this wage. The bill also requires school districts to send a copy of public hearing notices to the comptroller and makes several technical changes to how applications, agreements, and compliance reports are processed and published online. These modifications aim to provide more transparency and set clearer standards for economic development incentive agreements in Texas. The changes will apply only to new applications submitted on or after the bill's effective date of September 1, 2025, ensuring existing agreements remain under their original terms.