Introduced
by
To increase from three to nine the number of areas in which “certified technology parks” (previously dubbed "smart zones") are allowed to expand by creating a "satellite" zone. These entities use “tax increment financing” to provide infrastructure or other subsidies to technology-based businesses. Like the better-known Downtown Development Authorities, they collect the extra local property tax revenue that (hopefully) results from property value increases generated by their selective subsidies and projects.
Referred to the Committee on Commerce and Trade
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Passed in the House 79 to 30 (details)
Referred to the Committee on Economic Development and International Investment
Reported without amendment
With the recommendation that the bill pass.
Passed in the Senate 33 to 4 (details)
To increase from three to nine the number of areas in which “certified technology parks” (previously dubbed "smart zones") are allowed to expand by creating a "satellite" zone. These entities use “tax increment financing” to provide infrastructure or other subsidies to technology-based businesses. Like the better-known Downtown Development Authorities, they collect the extra local property tax revenue that (hopefully) results from property value increases generated by their selective subsidies and projects.
