Introduced
by
To allow downtown development authorities to enter into agreements with municipal bus and transit agencies to share revenue from tax increment financing deals for projects that “incorporate and encourage” public transit services and development. Tax increment financing "captures" the increment of extra local property tax revenue that would result from the property value growth which might be generated by certain improvement projects that an authority undertakes.
Referred to the Committee on Transportation
Referred to the Committee on Intergovernmental, Urban, and Regional Affairs
