Introduced
by
To allow a local “land bank authority” to exempt parcels from the alternate property tax levied on its property, if the tax break is for “economic development” purposes. This would make the property subject to regular property taxes, which then could be “abated” by the local government under a variety of laws authorizing selective property tax breaks for particular developers and projects.
Referred to the Committee on Commerce
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Passed in the House 96 to 11 (details)
Referred to the Committee on Economic Development
Reported without amendment
With the recommendation that the bill pass.
Passed in the Senate 36 to 2 (details)
To allow a local “land bank authority” to exempt parcels from the alternate property tax levied on its property, if the tax break is for “economic development” purposes. This would make the property subject to regular property taxes, which then could be “abated” by the local government under a variety of laws authorizing selective property tax breaks for particular developers and projects.
