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BISD board finds Lucite in breach of tax-limitation agreement, moves to recover about $2.36 million
Summary
After closed-session review, outside counsel told the board Lucite Incorporated acknowledged it failed to maintain a viable presence; the board voted 6–0 to issue a breach notice and seek repayment of tax benefits, penalty and interest totaling about $2,357,217.72.
The Beaumont Independent School District board voted unanimously to issue written notice that Lucite Incorporated is in breach of its Chapter 312 tax-limitation agreement and to pursue repayment of the tax benefits it received.
Outside counsel Molly Hanley told trustees that Lucite stopped operations in 2022 and did not maintain the presence required by the district’s agreement. Hanley summarized…
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