2008 House Bill 5609 ↩

House Roll Call 111: Passed

To authorize the creation of three additional “certified technology parks” ("smart parks") in which “tax increment financing” is used to provide subsidies to technology-based businesses. A tax increment financing authority (TIFA) "captures" the increment of extra local property tax revenue that would result from the property value growth which might be generated by certain improvement projects (or selective business subsidies) the authority undertakes (or grants).