BREAKING NEWS: Texas Comptroller records show Taylor ISD Chapter 313 agreement is for $17B Samsung Austin Semiconductor facility
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The Taylor ISD Board of Trustees met on June 30th and approved a motion to restrict property tax from Samsung Austin Semiconductor. (Screenshot courtesy of Taylor ISD)
Records from the Texas Comptroller of Public Accounts show that a Taylor ISD approved June 30th application for a Chapter 313 tax restraint was in effect on Samsung Austin Semiconductor.
The application, called “Project Colin,” was approved by the Taylor ISD Board of Trustees on June 30, the Community Impact Newspaper previously reported.
Tim Crow, TISD’s Public Information Officer, declined to say at the time how high a restriction was approved, how long it would last, or who it came from, as the project name does not belong to an existing company.
In records obtained by Community Impact from the Comptroller website, a property of unknown location is the subject of a tax refund application for a $ 17 billion facility over a 5 year period. The application does not make it clear to what extent a restriction can be considered. It was accepted by the school district but not yet approved by the auditor. The filing states that Samsung is also considering locations in Arizona, New York, and South Korea for a new facility.
If approved, construction is to begin in January 2022, with the first year of restriction being 2024.
Samsung Semiconductor sought a 100% tax break for 20 years in January to bring its 6.1 million square foot chip manufacturing facility to the region. That facility would have involved an investment of $ 17 billion – $ 6 billion in structural and other real estate developments and $ 11 billion in personal property in machinery and equipment. The same investment amount is described in the application approved by Taylor ISD.
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