Introduced
by
To eliminate a requirement that two notices must be published of a hearing of a brownfield redevelopment authority tax increment financing plan that would “capture” local property taxes, and instead only require one notice. Also, if the plan does not apply to school taxes, allow the notice to be published 10 days before the hearing, rather than 20 days. Also, to expand the range of site planning activities that can be done with captured school taxes, and raise the amount that can be spent on these.
Referred to the Committee on New Economy and Quality of Life
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that does not eliminate a requirement that two notices must be published but revises the timing of the notices.
The substitute passed by voice vote
Passed in the House 105 to 1 (details)
To revise the notice requirements for a hearing on a brownfield redevelopment authority tax increment financing plan. Also, to increase the amount of captured tax revenue that may be used to cover an authority's administrative and operating expenses, baseline environmental assessments (BEAs), due care activities, additional response activities, and the costs of preparing and reviewing a work plan.
Referred to the Committee on Economic Development and Regulatory Reform
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.
The substitute passed by voice vote
Amendment offered
by
To establish new regulations on the the ability of brownfields authority to revise the starting dates of tax increment revenue collections, and revise details of what increments of certain expanded tax revenues are subject to "capture" by an authority.
The amendment passed by voice vote
Passed in the Senate 35 to 0 (details)
To revise the notice requirements for a hearing on a brownfield redevelopment authority tax increment financing plan. Also, to increase the amount of captured tax revenue that may be used to cover an authority's administrative and operating expenses, baseline environmental assessments (BEAs), due care activities, additional response activities, and the costs of preparing and reviewing a work plan.
Passed in the House 106 to 0 (details)
To concur with the Senate-passed version of the bill.
