Subscribe to receive our Floor Reports covering all the action on the Texas House and Senate floor!
HB 518 would allow qualified retailers certified by the comptroller to retain a certain amount of the sales tax they collect to provide job training and placement services to persons with disabilities, low education, criminal records, and/or those without homes.
In the first year of certification, retailers would be able to retain the lesser of 30 percent or $1 million of sales tax revenues they collect, and use the money to improve infrastructure to provide such services. For each subsequent year of certification, they may retain the lesser of 50 percent or $1 million of sales tax imposed on them. Qualifying organizations will hold the certification for three years until completion or renewal is required. Retailers who have failed to comply with appropriately using this money will have their certification revoked and will have to remit a designated amount in tax collections. No retailer may be certified until September 2019.