Houston City Council to vote on tightening rules on corporate tax breaks
Houston City Council is set to vote Wednesday on an ordinance that would turn vague company promises tied to tax breaks into enforceable requirements. The Houston City Council is set to vote on an update to its tax abatement ordinance, which would make vague promises tied to corporate tax breaks more enforceable. The current ordinance states that companies promise to create jobs and invest in the city's development in exchange for tax breaks. Council Member Alejandra Salinas, who helped create the updated ordinance, stated that instead of allowing companies to make promises, the city wants to enforce requirements on those receiving breaks. The Mayor's Office of Economic Development is currently responsible for ensuring tax break deals are followed. However, it is unclear if this will change the review process if the ordinance passes.
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Houston City Council is set to vote Wednesday on an ordinance that would turn vague company promises tied to tax breaks into enforceable requirements.
When companies want a tax break from the City of... [2542 symbols]
