Introduced
by
To increase the disclosures that local brownfield redevelopment authorities must make to the state. The bill would require these tax increment finance authorities (TIFAs) to disclose the total amount of local taxes that are approved for “capture” by the authority, and the source of tax increment revenues received for each active brownfield plan, including the amount captured in the most recent tax year and cumulatively. A TIFA "captures" the “increment” of extra local property tax revenue that supposedly will result from spending borrowed money on various subsidies and local improvement projects.
Referred to the Committee on Oversight
