Introduced
by
To expand from 10 to 11 the number of “promise zone” tax increment financing authorities (TIFA) located in low income and “low educational attainment” areas, with the new one in Flint. These entities were authorized by a 2008 law to “capture" a portion of any increases in the state portion of school property tax revenue in the area, and use the money to partially subsidize college tuition for local students. The bill is co-sponsored by eight other Democrats and one Republican.
Referred to the Committee on Government Operations
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Passed in the Senate 35 to 1 (details)
To expand from 10 to 11 the number of “promise zone” tax increment financing authorities (TIFA) located in low income and “low educational attainment” areas, with the new one in Flint. These entities were authorized by a 2008 law to “capture" a portion of any increases in the state portion of school property tax revenue in the area, and use the money to partially subsidize college tuition for local students.
Referred to the Committee on Local Government and Municipal Finance
