Introduced
by
To exempt library property taxes from being “captured” under a downtown development agency’s tax increment finance scheme (which is how these authorities pay for their various projects and subsidies). The bill would give library boards the option of whether to allow their property tax millage revenue to be “captured” by a DDA, with some specified exceptions.
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the bill pass.
Passed in the Senate 36 to 2 (details)
Referred to the Committee on Tax Policy
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Substitute offered
by
To make the exemption prospective only, applying only to library millages approved after 2016.
The substitute passed by voice vote
Passed in the House 68 to 40 (details)
To exempt library property taxes from being “captured” under a downtown development agency’s tax increment finance scheme (which is how these authorities pay for their various projects and subsidies). The bill would give library boards the option of whether to allow their property tax millage revenue to be “captured” by a DDA, with some specified exceptions.
Passed in the Senate 35 to 2 (details)
To concur with the House-passed version of the bill.
