Introduced
by
To revise the terms of an exception to the definition of “other protected obligations” in the law authorizing downtown development authorities (DDAs), so as to forgive repayments to the School Aid Fund that would otherwise be required by a particular authority. This relates to the way in which the 1994 Proposal A school aid and property tax initiative affected school taxes that DDAs previously were allowed to "capture" under tax increment financing plans.
Referred to the Committee on Commerce and Tourism
