Abbott signs five Texas measures on small business filings and tax credits
Texas Gov. Greg Abbott signed five measures in Fort Worth on June 17 that the governor’s office says will reduce barriers for small businesses and expand filing and tax benefits.
Governor Greg Abbott signed five Texas measures in Fort Worth on June 17 that the governor’s office says are intended to ease business filings, cut some local rules and expand tax benefits.
Abbott signed House Bill 346, House Bill 2464, House Bill 5195, House Concurrent Resolution 142 and Senate Bill 2206 during a Fort Worth Economic Development Partnership luncheon, according to a Texas Governor press release. The governor’s office said the measures are aimed at reducing regulatory barriers for small businesses and supporting the state’s business climate.
The release said the laws build on Abbott’s Small Business Freedom Council, which he launched last year to review government efficiency for Texas businesses and recommend ways to cut unnecessary regulations.
According to the governor’s office, HB 346 would allow the Secretary of State to offer expedited business filings and make the new-veteran-owned business franchise tax exemption and business filing waiver permanent. HB 2464 would prevent cities from imposing regulations on certain home-based businesses. HB 5195 would require state agencies to assess modernization of their internet websites to make it easier to do business.
HCR 142 designates Fort Worth as the aviation and defense capital of Texas. SB 2206 increases the research and development franchise tax credit up to 11% for qualified research expenses and creates a refundable franchise tax credit, according to the release.
Abbott said most businesses in Texas are small businesses and that they employ about half of all employees in the state, the governor’s office said. He also said the laws reduce barriers for small businesses and prioritize ordinary Texans. The release quoted him saying Texas is the best place to start and own a business.
The governor also discussed Fort Worth’s role in the Texas economy and its place in military capacity and aerospace technology, according to the release. The event attendees listed by the governor’s office included Sens. Kelly Hancock, Bryan Hughes and Royce West; Reps. Benjamin Bumgarner, Charlie Geren, Caroline Harris Davila, John McQueeney, Morgan Meyer, Katrina Pierson, Nate Schatzline, David Spiller and Tony Tinderholt; Fort Worth Mayor Mattie Parker; and Fort Worth Economic Development Partnership President and CEO Robert Allen.
The release did not say when the new laws would take effect. It said the measures were passed during the 89th Regular Legislative Session.
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Editorial note: This article was prepared with AI assistance and includes source attribution for reader review.
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