Introduced
by
To exempt from city income tax entities formed under a proposal to authorize a school district to sell a school building to a private entity which would lease it back to the district after rehabbing it and bringing it up to code. At the end of the lease period the building would be turned back over to the district. Under the proposal, which is found in Senate Bill 20 and 21, the private entity would receive a single business tax credit, and the school district would be able to indirectly finance a capital improvement project (and take on a corresponding liability) without having to ask voters to pass a bond initiative.
Referred to the Committee on Finance
