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Legislation: This legislation expands the list of economic development corporation (ECD) statutorily eligible projects. This legislation would allow infrastructure improvements, telecommunications improvements, and coastal erosion control to the list of statutorily eligible projects to be funded by ECDs.
Analysis: This legislation is bracketed for Port Arthur/Jefferson County. Currently EDCs give cities the ability to finance new or expanding business enterprises in their local communities. EDCs authorize sales taxes to be diverted to corporations for the financing of their expressed projects. This is a local control issue. Currently the municipal sales tax rate is capped at 2 cents. In addition this legislation does not expand the district but rather gives more latitude for which types of projects they can pursue economic development. Support for this legislation means allowing local money to finance local projects and improve local quality of life and maximize self-determination within the bracketed area the legislation applies to. Vote YES on HB 1966.