State Comptroller Begins Accepting Corporate JETI Applications

The newest law allowing for corporate property tax breaks is now in effect, and the Texas Comptroller for Public Accounts (CPA) began taking corporate applications last month.

The Jobs, Energy, Technology and Innovation Act (JETI) was created by the passage of the 8th Legislature’s House Bill 5 and aims to make Texas the leader in new and innovative technologies with eligible projects such as facilities for research, development or manufacturing of high-tech equipment and technology.

It “aims to help Texas stay competitive by attracting new jobs and investment to the state,” according to the CPA’s website.

The bill is considered by some to replace the Chapter 313 program, which allowed certain industries to avoid a large portion of school taxes for 10 years. The program expired at the end of 2023 and benefited many industries, including technology.

Of note, Texas Instruments and Tesla received tax breaks.