Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.
| State or Territory: | Texas |
| Effected Jurisdiction: | Kenedy Independent School District |
Jurisdiction type: | School district |
| Fiscal year ending In: | 2019 |
| Program name: | Value Limitation Agreement |
| Program purpose: | General Economic Development |
| Statutory authority: | Texas Economic Development Act (Tax Code 313); Texas Tax Code 171 (313.024(a)), (313.024(b)(1)) (313.024(a)) |
| Abating jurisdiction(s): | Kenedy Independent School District |
| Applicable taxes: | Property Tax Tax |
| Method of abatement: | (not specified) |
| Provisions for recapture: | If the company fails to comply with the conditions for eligibility, the District is entitled to recapture all Property Tax tax revenue lost as well as the payment of penalty and interest calculated in accordance with the methodology set out in Texas Tax Code Chapter 33. |
| Gross revenue loss: | $1,363,407 |
| Reimbursement / offset: | $0 |
| Net revenue loss: | $1,363,407 |
| Type of loss: | Active |
| Additional notes on dislosure: | CAFR does not disclose the amount of state funding that is to be provided. Agreement made in 2013. |
