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.
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Abbott also signed three other business-friendly measures:…