Polk County Enterprise (Livingston, Tex.), Vol. 117, No. 78, Ed. 1 Sunday, October 3, 1999 Page: 2 of 26
This newspaper is part of the collection entitled: Polk County Newspapers and was provided to The Portal to Texas History by the Livingston Municipal Library.
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t POLK COUNTY ENTERPRISE, SUNDAY,
f From national forest timber sales
Turner works to retain fundii
i mon> av aucu aNGuixw
LEARNING THE OLD WAYS - Some of the many local students who touned Heritage Park
Thursday and Friday in conjunction with the Pine Cone Festival try their hand at washing
clothes using rub boards. Members of the Polk County Heritage Society also gave folk life
demonstrations in cross-cut log sawing, quilting, spinning, weaving and other pioneer life
Skills. Various tours at Heritage Park continue through Sunday, as does the Pine Cone Festival
itself at Pedij*o Park.
Tax credits apply to local business
AUSTIN - Polk County is on a
list of Texas counties where busi-
nesses can anty for hundreds of
millions of dollars in state tax
breaks authorized by the legislature
last session.
These incentives will ignite
growth across thfc state," said Texas
Carole .Keeton Ry-
^Comptroller
^Lufer, who released the list of eli-
•gitye countk
i counties Tuesday "This is
'exitly whit m need to maintain
Texas' posiUon as a national leader
in technology job growth."
The new franchise tax credits in-
dude a research credit, a job crea-
tion credit and investment credit and
will become available to most tax-
■■ payers beginning in 2001. The cred-
its are available for tax reports due
.floor after Jan. 1, 2000 and are for
‘^search
conducted, jobs created or
tments made on or after that
All three tax credits are real ;nd
nesses large and small will
Rylandcr said. "The total
of the lax breaks will
jw many businesses
advantage of this tremendous
credit program."
ir Research credit
> The research credit is available to
firms that perform qualified research
Jin Texas. It is based on the firm's
,'annual increase in research facilities
‘‘over the prior year.
■ Four percent of qualified research
expenses will be credited for tax re-
due through the end of 2001,
that credit will increase to $
t for tax reports due in 2002
and after.
Job creation credit
> Companies that create jobs in se-
lected counties may qualify for a
job credit equal to 25 percent of the
wages paid to new hires in their
first year of employment. To qual-
ify, a corporation must create at
least 10 jobs, pay at least 110 per-
cent of the county’s average weekly
wage, pay health benefits and be
engaged, in manufacturing, ware-
housing, wholesale distribution,
computer services or research labo-
ratories * 1» *
The credit is limited to 50 percent
of the firm's tax liability in the year
that credits are claimed. Unclaimed
credits may be carried over for up to
five years.
Investment credit
Corporations that invest at least
$500,000 in machinery and equip-
ment can qualify for a franchise tax
credit equal to 7.5 percent of that
investment.
This credit too, is limited to 50
percent of (he firm's tax liability.
Rylander estimated that 224
counties fall wholly or partially in
the state Strategic Investment Ar-
eas. "In my most recent Texas
Economic Update' it is reported that
four of the nation's five poorest
metro areas are in Texas all along
the Texas/Mexico border, with El
Paso MSA ranked No. 5 in the na-
tion," she said.
Of those, 115 counties, including
Polk County, qualify for full pur-
pose designation based on their rela-
tive unemployment rate and per-
capita income. This designation
will permit firms engaged in manu-
facturing, warehousing, wholesale
distribution, computer services or
research laboratories to apply far
job creation, investment crelits and
a research credit bonus.
Another group of 105 counties
qualify only for the limbed purpose
designation based on their popula-
tion. Corporations engaged in agri-
cultural processing in these coun-
ties can apply for the job creation
and investment credits
.Again, Polk County is among
those eligible for the full Strategic
Investment Areas designation.
"Businesses should be eager to
take advantage of this generous tax
credit plan which will create good-
paying jobs for hard-woridng Tex-
ans," Rylander said.
She praised the sponsors - Sena-
tors Rodney Ellis, D-Houston,
David Sibley, R-Waco, Royce
West, D-Dallas, and Representa-
tives Brian McCall, R-Plano, and
Rene Oliveira, D-Brownsville. She
also hailed the work of Senators
Eddie Luck), D-Brownsville, Eliot
Shapleigh, D-El Paso and Repre-
sentative Yvonne Davis, D-Dallas.
"Without the exceptional efforts
of these individuals, this monumen-
tal tax break program would never
have seen the light of day," she
said.
WASHINGTON, D C. - Con-
gressman Jim Turner has joined
representatives of the National Edu-
cation Association, the National
Forest Counties ad School Coali-
gress at a press conference support-
ing the County School Funding
Revitalization Act of 1999, H R.
2389. The bill seeks to restore the
predictability and stability of annual
payments from the federal govern-
ment to counties and school dis-
tricts from sales of timber in our
National Forest Turner is an origi-
nal co-sponsor of the legislation..
"Many years ago the government
leached a agreement with rural
forest communities which gives 25
percent of the revenues generated
from federal forest lands to finance
public schools and governments,"
Turner said. "However, with the
decline of federal timber sales,
may communities are no longer
receiving the promised ad much-
needed funding which they have
come to rely upon. The legislation
is a critical first step in providing
our local communities with the
resources necessary to improve lo-
cal schools and infrastructure."
The federal government and rural
forest communities entered into a
compact in 1908 to distribute 25
percent of the revenues generated
from federal forest lands to counties
to compensate them for a reduced
local property tax base For many
years, this agreement between fed-
eral and local governments was
satisfactory for both parties. In re-
cent years, however, with the dra-
matic decline in federal timber sales
and the absence of other significant
revenue sources from federal forest
lands, many counties and schools
that are dependent upon the pay-
ment proceeds have suffered. This
decline in shared revenues has se-
verely crippled education:*! funding
in the affected counties.
This legislation would restore
stability to the 25 percent payment
compact by ensuring a predictable
payment level to federal forest
communities for an interim five-
year-period and requires the federal
government to work with county
and school representatives to de-
velop a permanent solution to the
current trend of declining payments.
"Representing 19 East Texas
counties with almost 640,000 acres
of National Forest land, I have seen
first tend the staggering effects of
the reduction in payments to many
of our local schools and counties,"
Tuner said. "Many schools have
been forced to lay off employees,
postpone building repairs and cur-
tail other important school activi-
ties because of this loss of critical
funding In addition, local county
budgets have been depleted and
communities have been forced to
cut funding for social programs aid
load infrastructure to offset the loss
of revenues from the National For-
ests This legislation will correct
this problem."
The House Agriculture Commit-
tee approved the legislation today
by a unanimous voice vote, clear-
ing the way for a vote by the full
House. Congressman Turner re-
cently testified before the House of
Agriculture Committee's Depart-
ment Operations, Oversight, Nutri-
tion, and Forestry Subcommittee
regarding the benefits of the legisla-
tion for public schools snd local
in East Texas.
governments
testifying before the S
on 'this issue were Judge
Evans of Trinity County aid
Chris von Doenhoff of
County
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CHURCH STREET
FINANCIAL SERVICES
CECIL LANGSTON
CLU, LUTCF
Wholly owned subsidiary of The First National Bank of Livingston
Complete Financial Services Including:
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MUTUAL FUNDS & ANNUITIES
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308 W. Church • First National Bank Downtown Branch
P.0. Drawer 2199 Livingston, Texas
E-Mail: clangston9detnet.com
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5 K\
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White, Barbara. Polk County Enterprise (Livingston, Tex.), Vol. 117, No. 78, Ed. 1 Sunday, October 3, 1999, newspaper, October 3, 1999; Livingston, Texas. (https://texashistory.unt.edu/ark:/67531/metapth789312/m1/2/?q=music: accessed July 18, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Livingston Municipal Library.