2011 House Bill 4148

Bail out towns that borrowed for failed subdivisions

Introduced in the House

Jan. 26, 2011

Introduced by Rep. Cindy Denby (R-47)

To create a state revolving loan fund to bail out local governments that authorized property tax “special assessments” to pay the debt incurred providing infrastructure for subdivision developments that are now less than 20 percent completed (and so not paying the expected special assessments). See also House Bill 4144.

Referred to the Committee on Local, Intergovernmental, and Regional Affairs