Tex. Government Code § 2310.302
QUALIFIED BUSINESS
Texas · Texas Government Code · Status: effective
Cite this
- Citation
- Tex. Government Code § 2310.302, QUALIFIED BUSINESS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/664516
- Permanent ID
ys:prov:664516@1- SHA-256
9d4ef95741c05bf7fc639e0d362dded137572329f6ef6dbe07da529514f66783
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) A person is a qualified business if the bank, for the purpose of state benefits under this chapter, or the governing body of a readjustment zone, for the purpose of local benefits, certifies that:
(1) the person is engaged in or has provided substantial commitment to initiate the active conduct of a trade or business in the readjustment zone; and
(2) at least 25 percent of the person's new employees in the readjustment zone are:
(A) residents of the governing jurisdiction;
(B) economically disadvantaged individuals, as defined by Section 2303.402(c); or
(C) dislocated defense workers.
(b) The governing body of a readjustment zone may certify a franchise or subsidiary of a new or existing business as a qualified business if the franchise or subsidiary:
(1) is located entirely in the readjustment zone; and
(2) maintains separate books and records of the business activity conducted in the zone.