If you run a small business, your might be interested in this. Governor Greg Abbott Thursday 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.
Here’s what the bills enact:
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 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.
