Soon, this dock could be in the heart of a new industrial district, as the Rio Grande Valley has never seen. Large facilities will receive natural gas from the Eagle Ford Shale, turn it into liquid form and be shipped to Latin America, Europe and Asia, where it has a higher price. Five exporters of liquefied natural gas (LNG) have leases on the shipping channel. Three of them, including Annova LNG, submitted plans to the federal authorities. Annova wants to build its terminal right in front of the canal of this quay. Tankers that can absorb 40 million gallons of LNG would come out of the Gulf, relax in a dock and fill up with storage tanks the size of tall buildings. Proponents of the program argue that texas` high local property tax rates penalize the state in competing for companies that make new investments. The corporate groups claim that the tax cuts are largely responsible for the “Texas Miracle” and attract projects that otherwise would not have arrived in Texas. Without the 313 program, they say, Texas cannot compete with other states for new business investment. Proponents of the program say the reduction in local school district real estate revenues as a result of the reduction does not result in any real costs to the state and say that “without” the program, none of the companies applying for the cut would have been established in Texas.

[9] [10] [11] [12] [13] [14] Proponents also point out that the Section 313 program is extremely transparent and that even Chapter 313 agreements increase schools` tax bases. [15] Our lawyers have extensive experience in preparing and monitoring school districts through Chapter 313 Property Value Limit Agreements. We are diligent in putting in place revenue protection provisions that prevent school districts from suffering damage when they enter into these agreements. We have prepared Chapter 313 agreements dozens of times for many school districts. This experience is invaluable as we ensure that the interests of the borough are represented at every stage of the process. In 2012, Site Selection magazine paraphrased Freeport LNG CEO Michael Smith — whose company holds three 313 deals with Brazosport ISD and is seeking a fourth — and said tax credits “were not a factor in the location decision.” But he was quite happy to stick to the $375 million that saved his company those tax breaks. .