The Abatement RegisterComalAgreement 0009050
Texas Chapter 380 / 381 agreement · Comal

Caterpillar Inc.

Agreement 0009050, filed with the Texas Comptroller by Comal County, Texas.

$50,000,000committed capital investment
0–70%of $21,750,000 abated
December 31, 2023performance deadline
The obligation

What the contract requires.

“New Tangible Personal Property in the form of new manufacturing equipment put into service at the Facility before December 31, 2023”Executed agreement, p. 4
“Company intends to create an additional 24 and maintain 145 full time employees”Executed agreement, p. 1
“$50,000,000”Executed agreement, p. 5
The repayment remedy

What happens if it is not met.

“recapture any and all amounts previously paid under this Agreement (as applicable, the “Recaptured Amount’).”Executed agreement, p. 7

Where a deadline above has passed, no public record exists of whether it was met — not in the Comptroller’s filings, nor in the local government’s own disclosures. That is not evidence of non-compliance. Texas requires nobody to record it.

Abatement schedule · $21,750,000 · p. 4

What was abated, and for how long.

70%Year 1 - 2024
70%Year 2 - 2025
70%Year 3 - 2026
55%Year 4 - 2027
55%Year 5 - 2028
55%Year 6 - 2029
30%Year 7 - 2030
30%Year 8 - 2031
0%Year 9 — 2032
0%Year 10 - 2033

A local abatement waives only that taxing unit’s share of the property tax bill. School districts, counties, cities and hospital districts each sign separately.

Every field, as the contract states it

The record.

FieldValue & quoted sourcePage
Granting bodyComal County, TexasComal County, Texas (hereinafter called “County’), a political subdivision of the State of Texas1
Contracting entityCaterpillar Inc.Caterpillar Inc., a Delaware Corporation authorized to do business in Texas (hereinafter called “Company’)1
Parent / guarantorNot stated in the agreement—
InstrumentChapter 381 Economic Development AgreementThis Chapter 381 Economic Development Agreement (“Agreement”)1
Governing chapterChapter 381, Local Government Code<<<PAGE 1>>> CHAPTER 381 ECONOMIC DEVELOPMENT INCENTIVE AGREEMENT [Caterpillar Inc.-Project Hydra] This Chapter 381 Economic Development Agreement (“Agreement”) is entered into to be effective as of May 12, 2022, by and between the Comal County, Texas (hereinafter called “County’), a political subdivision of the State of Texas and Caterpillar Inc., a Delaware Corporation authorized to do business —
Capital investment$50,000,000$50,000,0005
Grant or incentiveNot stated in the agreement—
Jobs committed24 recital language, not a covenantCompany intends to create an additional 24 and maintain 145 full time employees1
Wage requirement$8,426,420with a minimum annual payroll of $8,426,420 at the end of Calendar Year 20261
Square footageNot stated in the agreement—
AcreageNot stated in the agreement—
Performance deadlineDecember 31, 2023New Tangible Personal Property in the form of new manufacturing equipment put into service at the Facility before December 31, 20234
ExpirationMay 15, 2034“Expiration Date” shall mean the earlier of: 1. May 15, 2034; or 2. The date of termination, provided for under Article VII of this Agreement.3
Effective dateMay 12, 2022This Chapter 381 Economic Development Agreement (“Agreement”) is entered into to be effective as of May 12, 20221
SignatoryNot stated in the agreement—
Chain statusTerminal document — no later agreement in the registry names this one as its predecessor—
How to check this page

Every line above is in the contract.

Agreement 0009050 is filed with the Texas Comptroller. Pull the PDF, go to the page number beside any row, and read the sentence. If a figure here does not match the document, tell me and it is corrected the same day.

Where the contract says nothing, the field is left empty rather than filled with a guess.

One of 1,645

Which of these are on your book?

This is a single agreement. I have read 1,645 of the 4,428 Texas has filed, resolved which have been superseded, and recorded what each commits a company to.

Send me an entity and a county and I will tell you what is on it — quoted, page-cited, checked. Free for the first one.

[email protected]