The bill, introduced by Harrison as H.B. No. 178, aims to repeal the Texas Jobs, Energy, Technology, and Innovation Act. Specifically, it repeals Subchapter T of Chapter 403 in the Government Code, which was added by H.B. 5 during the 88th Legislature's Regular Session in 2023. The bill also includes several amendments to the Education Code and Tax Code, which reference the now-repealed provisions of Subchapter T, ensuring that any agreements limiting taxable property values made under that subchapter prior to the bill's effective date will continue to be honored under the previous law.

Additionally, the bill mandates that any funds previously allocated to the Texas Jobs, Energy, Technology, and Innovation Act be redirected to the Texas Education Agency starting from the state fiscal biennium beginning September 1, 2025. This transfer is intended to help reduce the state compression percentage under Section 48.255 of the Education Code. The bill is set to take effect immediately upon receiving a two-thirds majority vote from both houses of the legislature; otherwise, it will take effect 91 days after the end of the legislative session.

Statutes affected:
Introduced: Education Code 48.2551, Education Code 48.256, Government Code 2303.507, Tax Code 23.03, Tax Code 26.012, Tax Code 171.602, Tax Code 312.0025 (Government Code 2303, Education Code 48, Tax Code 171, Tax Code 312, Tax Code 23, Tax Code 26)