Tax Break That Lured Tesla and Samsung to Texas Is Set to Expire
- Chapter 313, which lowers property levies, ends this year
- The state received more than 75 applications in first quarter
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A key incentive used by Texas to land multibillion dollar investments from firms like Tesla Inc. and Samsung Electronics Co. is set to go away, sparking a rush by companies to lock down the tax breaks.
More than 75 applications were tallied in just the first quarter, more than were seen in some entire years recently. The program known as Chapter 313, which provides property-tax breaks for as long as 10 years in exchange for investments that can range from small solar farms to semiconductor factories, shuts down to new entrants at the end of December.