Introduced
by
To authorize local "transit revitalization investment zone” tax increment financing authorities (TIFAs), that could use “captured” tax revenues on street or building improvement projects oriented to transit stations, with the intention of promoting transit ridership or passenger rail use. 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 (or selective subsidies) that an authority undertakes.
Referred to the Committee on Transportation
Referred to the Committee on Intergovernmental, Urban, and Regional Affairs
