Introduced
by
To give local "local development financing act" authorities the power to borrow and spend on infrastructure projects and subsidies that promote the use of mass transit and are within a half mile of a transit station. The debt is paid by "capturing" a portion of increased property taxes that would otherwise be available to local governments to pay for their own operations (or for tax cuts).
Referred to the Committee on Intergovernmental, Urban, and Regional Affairs
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Passed in the House 80 to 24 (details)
Referred to the Committee on Commerce and Tourism
Reported without amendment
With the recommendation that the bill pass.
Passed in the Senate 34 to 0 (details)
To give local "local development financing act" authorities the power to borrow and spend on infrastructure projects and subsidies that promote the use of mass transit and are within a half mile of a transit station. The debt is paid by "capturing" a portion of increased property taxes that would otherwise be available to local governments to pay for their own operations (or for tax cuts).
