There are less than eight weeks until sine die. With over 10,300 bills filed, 900 bills–and counting–have passed the House and/or Senate. A top priority of the Fort Worth Chamber’s 89th legislative agenda includes the support to preserve economic development incentives and a tax system that stimulates economic growth.
Research & Development Investments
One of Texas' most powerful tools is its ability to attract cutting-edge companies by offering incentives for innovation through research and development (R&D) investments. Innovative industries such as advanced manufacturing, defense, and energy have utilized the R&D tax credit to reinvest back into their company. In return, Texas emerges as a top destination to grow business and foster skilled labor.
This week, the Senate Finance Committee considered SB 2206 authored by Senator Bettencourt, to extend the R&D franchise tax credit that is set to expire in 2026, while also expanding its use to small and veteran-owned businesses. The Fort Worth Chamber dropped a card in support during the hearing and joined a coalition letter in support of the efforts to extend this pro-growth, pro-innovation legislation. Representative Charlie Geren champions HB 4393, the House companion bill.
Texas Film Incentive
Fort Worth uniquely prospers from the emerging film industry. As California becomes too expensive to do business, Texas has become an appealing site for film production. Last week, the Senate Finance Committee heard Senator Joan Huffman’s SB 22, a bill to double the Texas Film Incentive to $500 million. The presence of the film industry doesn’t just benefit movie stars and producers. From dry cleaners, construction workers, and students here in Tarrant County, the boom in film production in Fort Worth is contributing to businesses both big and small and the future generation.
The Fort Worth Chamber dropped a card in support of SB 22. It passed out of the Finance Committee and has been placed on the intent calendar for a vote in the Senate.
Texas Technology and Innovation Program
The Legislature took another step towards leveraging Texas as a competitive state to innovate. Senator Royce West’s SB 209 would provide a state match to the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) program recipients. This bill is a step forward in maintaining and attracting businesses to pursue new technological advancements in Texas. This bill passed out of the Senate Economic Development Committee this week and is heading for a vote in the Senate.
Together, these strong measures provide a smart approach to reinvesting in businesses that drive innovation, create jobs, and fuel economic growth.
From Beijing to Bangalore, tariffs are setting the tempo. China’s making “significant steps” to address U.S. concerns, while India braces for a fresh 25% duty and Japan gets a rare refund deal as 15% tariffs are folded into MFN rates. At home, Apple’s dropping a cool $100B to lure suppliers stateside, retailers are leaning on […]
Following the Fort Worth City Council’s vote to restructure its small business support programs—including the suspension of certain DEI initiatives—the Fort Worth Chamber reaffirms its commitment to a strong local business climate and the long-term success of Fort Worth’s small business community. “As the leading voice for business in Fort Worth, the Chamber is focused […]
