Sec. 2310.307. ALLOCATION OF JOBS ELIGIBLE FOR TAX REFUND. When the bank designates a business as a defense readjustment project, the bank shall allocate to the project the maximum number of new permanent jobs or retained jobs eligible to be included in a computation of a tax refund for the project. The number may not exceed 500 or a number equal to 110 percent of the number of anticipated new permanent jobs or retained jobs specified in the application for designation of the business as a defense readjustment project under Section 2310.305, whichever is less.
Added by Acts 1997, 75th Leg., ch. 114, Sec. 1, eff. May 19, 1997. Amended by Acts 2003, 78th Leg., ch. 814, Sec. 3.44, eff. Sept. 1, 2003.
Structure Texas Statutes
Subtitle G - Economic Development Programs Involving Both State and Local Governments
Chapter 2310 - Defense Economic Readjustment Zone
Subchapter E. Qualified Businesses and Defense Readjustment Projects
Section 2310.302. Qualified Business
Section 2310.303. Prohibition on Qualified Business Certification
Section 2310.304. Request for Application for Defense Readjustment Project Designation
Section 2310.305. Application for Defense Readjustment Project Designation
Section 2310.306. Defense Readjustment Project Designation
Section 2310.307. Allocation of Jobs Eligible for Tax Refund