Governor Greg Abbott today signed House Joint Resolution 1, House Bill 9, House Bill 346, House Bill 2464, and House Bill 5195 into law to support Texas' small businesses while virtually attending the Houston Regional Business Coalition luncheon. Passed during the 89th Regular Legislative Session, these new laws will accelerate the process for starting a business in Texas and cut unnecessary government regulations on small businesses.
"The Texas economy is better than ever before," said Governor Abbott. "This session, we took strategic steps to boost small businesses in Texas. Even the smallest of barriers can increase the cost of doing business. We want to make it easier and less costly for businesses in Texas, especially our small business owners."
During his virtual remarks to the Houston Regional Business Coalition, Governor Abbott highlighted the strength of the Texas economy, noting that Houston is a big part of that success with the third most Fortune 500 headquarters in the nation and almost one million small businesses. The Governor also discussed the critical work accomplished during the 89th Regular Legislative Session to bolster Texas' No. 1 ranking for business, including expanding business courts, codifying the business judgment rule, investing in water and grid infrastructure, and expanding career training programs. The laws signed by the Governor build on the progress started under his Small Business Freedom Council, which he launched last year to review government efficiency for Texas businesses and provide recommendations to cut unnecessary government regulations.
House Joint Resolution 1/ House Bill 9 (Meyer/Bettencourt) increases the business personal property tax exemption from $2,500 to $125,000, an almost 5,000% increase.
House Bill 346 (Harris Davila/King) allows the Secretary of State to offer expedited business filings so Texas small businesses can establish themselves quickly. This law will also make the new-veteran-owned business franchise tax exemption and business filing waiver permanent.
House Bill 346 (Harris Davila/King) allows the Secretary of State to offer expedited business filings so Texas small businesses can establish themselves quickly. This law will also make the new-veteran-owned business franchise tax exemption and business filing waiver permanent.
House Bill 2464 (Hefner/Middleton) prevents cities from imposing regulations on certain home-based businesses.
House Bill 5195 (Capriglione/Alvarado) requires state agencies to assess modernization of their internet website to make it easier to do business.
House Bill 5195 (Capriglione/Alvarado) requires state agencies to assess modernization of their internet website to make it easier to do business.
