Abbott signs business-boosting bills in virtual ceremony with Houston leaders
AUSTIN (KXAN) — Gov. Greg Abbott signed legislation Thursday morning aimed at reducing costs and regulatory burdens for small businesses, including a measure that would raise the business personal property tax exemption from $2,500 to $125,000.
The Republican Governor participated virtually in a ceremony hosted by the Houston Regional Business Coalition, where he touted Texas' economic performance and the state's leadership in job creation.
The centerpiece legislation, House Bill 9 and House Joint Resolution 1 by Rep. Morgan Meyer, R-University Park, and Sen. Paul Bettencourt, R-Houston, would significantly increase the property tax exemption for small businesses. However, the measure requires voter approval of a constitutional amendment in November's election to take effect.
Previous: Texas House and Senate strike agreement on property tax cuts
Abbott also signed three other business-friendly measures:
House Bill 346 by Rep. Caroline Harris Davila, R-Round Rock, streamlines business filing processes at the Secretary of State's office and makes permanent the franchise tax exemption for veteran-owned businesses.
House Bill 2464 by Rep. Cole Hefner, R-Mount Pleasant, prevents cities from enforcing certain regulations on qualified home-based businesses.
House Bill 5195 by Rep. Giovanni Capriglione, R-Southlake, requires state agencies to improve their websites for better business access.
The legislation aligns with Abbott's broader small business agenda. In December, the governor launched the Texas Small Business Freedom Council, directing state agencies to identify rules, permits, fees and regulations that may hamper small business formation and growth.
'These efforts will ensure that Texas continues to move at the speed of business,' Abbott said during the virtual ceremony.
Abbott highlighted Texas' economic achievements, noting the state's gross domestic product has reached nearly $2.7 trillion annually. He said Texas leads the nation in power generation and exports.
The Governor praised Houston's role in the state's economic success, citing the city's research universities, nearly one million small businesses and major port operations.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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