October 26, 2023
Early voting began this week for the November 7 Constitutional Amendments election, featuring 14 ballot propositions. The Fort Worth Chamber provided an overview of all 14 earlier this year, which can be viewed here. With several of the propositions impacting business operations in some capacity, outlined below are the pro-business cases for some of the amendments that appear on the ballot.
Proposition 2: This would allow cities and counties to offer property tax relief to childcare facilities, with the intention of making those operations more affordable. In order for parents to fully participate in the workforce, they need affordable, quality childcare options for their families. The Fort Worth Chamber co-authored a joint op-ed supporting Prop 2, which can be read here.
Proposition 3: This prevents the Legislature from imposing a “wealth tax” on individuals or businesses in Texas, maintaining our reputation as an attractive place for businesses and workers to locate.
Proposition 4: This proposition includes the property tax relief package passed by the Legislature during the summer, including an increased homestead exemption and a cap on the annual appraisal growth for commercial properties. With property tax burdens increasing across the board for both homeowners and business owners, this proposition will offer significant relief for many.
Proposition 5: This would create a $3.9 billion endowment fund for research at Texas public universities that don’t receive funds from the Permanent University Fund (PUF). The endowment – named the Texas University Fund – would support the nearby University of North Texas System and Texas Woman’s University System as well as other public university systems across the state.
Proposition 6: This would create a new fund for water infrastructure projects, including securing new water sources, repairing dated infrastructure, or building new water infrastructure.
Proposition 7: This would create a $5 billion fund for energy projects, specifically providing loans or grants to companies building or upgrading electricity-generating power plants.
Proposition 8: This creates a $1.5 billion state fund for the deployment of high-speed broadband across the state of Texas, allowing more people to conduct education, commerce, and telehealth services.
Proposition 9: This proposition increases the payments for retired teachers, providing them with their first cost of living adjustment in nearly two decades. With recent inflation, this will prevent teachers from falling further behind current market forces.
Proposition 10: Texas is one of a few states that levies property taxes on medical and biomedical inventory. This proposition would exempt such manufacturers from these property taxes, making Texas more competitive in attracting new medical business and retaining existing business.
Early voting as well as Election Day locations and hours of operation can be found on the Tarrant County elections website. Make a plan to get out and vote FOR the propositions outlined above.
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