LEGISLATIVE INTENT

It is the intent of the legislature in enacting this chapter that: (1) economic development decisions involving school district taxes should occur at the local level with oversight by the state and should be consistent with identifiable statewide economic development goals; (2) this chapter should not be construed or interpreted to allow: (A) property owners to pool investments to create sufficiently large investments to qualify for an ad valorem tax benefit provided by this chapter; (B) an applicant for an ad valorem tax benefit provided by this chapter to assert that jobs will be eliminated if certain investments are not made if the assertion is not true; or (C) an entity not subject to the tax imposed by Chapter 171 to receive an ad valorem tax benefit provided by this chapter; (3) in implementing this chapter, school districts should: (A) strictly interpret the criteria and selection guidelines provided by this chapter; and (B) approve only those applications for an ad valorem tax benefit provided by this chapter that: (i) enhance the local community; (ii) improve the local public education system; (iii) create high-paying jobs; and (iv) advance the economic development goals of this state; and (4) in implementing this chapter, the comptroller should: (A) strictly interpret the criteria and selection guidelines provided by this chapter; and (B) issue certificates for limitations on appraised value only for those applications for an ad valorem tax benefit provided by this chapter that: (i) create high-paying jobs; (ii) provide a net benefit to the state over the long term; and (iii) advance the economic development goals of this state.