Introduced
by
To allow municipalities to establish a tax increment finance authority covering an area in which a state university has facilities, with the same powers as a downtown development authority, including the power to borrow for various projects or subsidies, and repay the money using “captured” incremental property tax increases that otherwise would go to the local government or other taxing bodies. A municipality that already had a DDA could start a second one for this purpose.
Referred to the Committee on New Economy and Quality of Life
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that revises details but does not change the substance as previously described.
The substitute passed by voice vote
Passed in the House 76 to 30 (details)
Referred to the Committee on Economic Development and Regulatory Reform
Reported without amendment
With the recommendation that the bill pass.
