Introduced
by
To give port authorities the power to impose up to 2 mills of property tax, if approved by the local government where it is located. This would be in addition to property taxes the local government can impose on behalf of the port authority. Also, to greatly expand the scope of things a port authority can borrow and spend on, the types of property and facilities they may own or subsidize, the types of business arrangements they may enter with private entities, and the types of local government that may create one. New port authorities would not have the power of eminent domain but existing ones would retain it.
Referred to the Committee on Local Government and Municipal Finance
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 98 to 9 (details)
To permit a government port authority to grant partnership status to a private business or developer, which would permit them to operate and collect revenue from the facility. New port authorities would not get half their expenses paid by the state like existing ones, but would be able to keep any annual profits rather than turning them over to the local and state government. Cities or counties could create a new port authority on their own, rather that in combination. New port authorities would not have the power of eminent domain but existing ones would retain it.
Referred to the Committee on Economic Development and International Investment
