Introduced
by
To empower Downtown Development Authorities to borrow and spend the loan proceeds on “marketing initiatives," "infrastructure improvements" and more that "promote local agriculture products and farmers markets." The debt incurred by these "tax increment financing" schemes is repaid by "capturing" from other local taxing units the increased property tax revenue that the DDA's subsidies and spending are presumed to generate.
Referred to the Committee on Commerce
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Passed in the House 81 to 27 (details)
Referred to the Committee on Economic Development
Reported without amendment
With the recommendation that the bill pass.
