Introduced
by
To exempt library property taxes from being “captured” under a “local development financing” authority’s tax increment finance scheme (which is how such 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 these authorities, 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 67 to 41 (details)
To exempt library property taxes from being “captured” under a “local development financing” authority’s tax increment finance scheme (which is how such 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 these authorities, with some specified exceptions.
Passed in the Senate 35 to 2 (details)
To concur with the House-passed version of the bill.
