Introduced
by
To not apply to the "eligible obligations" specified in the law authorizing downtown development authorities (DDAs) certain restrictions that apply to the refinancing of other municipal debt. "Eligible obligations" relates to the tax increment financing (TIF) used by DDAs, which allows them to “capture” increased local property tax revenue that results from their financing of certain improvement projects. However, due to provisions of Proposal A starting in 1994, the use of school tax revenue in a TIF scheme is not permitted without an "eligible obligations" exemption.
Referred to the Committee on Intergovernmental, Urban, and Regional Affairs
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Referred to the Committee on Intergovernmental, Urban, and Regional Affairs
