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Texas Comptroller's Office


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Texas Comptroller's Office of Economic Development and Analysis presentation at LCRA's Economic Development Forum in Austin on December 16th 2011

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Texas Comptroller's Office

  1. 1. 2011 LCRA Open House Economic DevelopmentTax Programs and Incentives December 16, 2011 Presented by: Julie Rabeux Manager, Economic Development & Analysis Texas Comptroller of Public Accounts 1
  2. 2. 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
  3. 3. 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
  4. 4. Tax Programs and Incentives• Sales Tax Programs: Type A / Type B New: Online Tutorial, Project Map Municipal Development Districts Manufacturing Exemptions 4
  5. 5. 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 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
  6. 6. 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
  7. 7. Leadership Circle ProgramFinancial Transparency: Recommended Documents • Annual Budget • Annual Audited Report • Expense/Check Register*Two of the three recommended documents are onlyupdated annually which means less work time for auditors 7
  8. 8. 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 pageFinancial Transparency Web Page = One Web page whereusers can find all recommended documents and any otherrelevant information. 8
  9. 9. Other resources for local governments? Budgeting Manuals for Texas Cities and Counties 9
  10. 10. Purchasing ManualModel 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 10
  11. 11. 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
  12. 12. JET- Equipment Fund• 44 community colleges and technicalschools have bought state-of-the-artequipment in the past two years to trainstudents for a wide range of high-demandcareers• The state’s investment in 61programs, was matched by local dollarsthat will train more than 8,200 studentsannually.• The training on JET-funded equipmentwill bring tangible financial benefits toevery successful student and their families;on average, students should annuallyearn $17,663 more than they would withno postsecondary education 12
  13. 13. 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 13
  14. 14. 14
  15. 15. Economic Outlook Refreshed weekly data on: Jobs, Housing, Consumer Confidence, Oil & Natural Gas, and Stimulus activities
  16. 16. TexasEdge Tool
  17. 17. Web and Multi Media Resources Websites  Texas Ahead:  New page dedicated to Rural Initiative: GovDelivery  Sign up for topic specific emails through our govdelivery system Social Media  Facebook and Twitter 17
  18. 18. Questions? Julie Rabeux Economic Development & AnalysisTexas Comptroller of Public Accounts _______________________________ (512) 475-5601 18