The bill, introduced by Harrison as H.B. No. 178, aims to repeal the Texas Jobs, Energy, Technology, and Innovation Act. It specifically 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. Additionally, the bill amends several sections of the Education Code and Tax Code to reflect this repeal, including updates to definitions and exclusions related to taxable property values that were previously governed by the now-repealed subchapter.

Furthermore, the bill stipulates that any agreements limiting the taxable value of property made under the repealed subchapter will continue to be effective as per the terms of that subchapter prior to its repeal. It also mandates that funds previously allocated to the Texas Jobs, Energy, Technology, and Innovation Act be redirected to the Texas Education Agency to help reduce the state compression percentage for the upcoming fiscal biennium. The bill is set to take effect immediately upon receiving a two-thirds majority vote from both houses of the legislature or, if not, on the 91st day after the legislative session concludes.

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 (Education Code 48, Tax Code 171, Tax Code 312, Tax Code 23, Tax Code 26, Government Code 2303)