2007 Senate Bill 972 ↩

House Roll Call 635: Passed

To allow Downtown Development Authorities to make below-market loans to subsidize improvements to buildings in a downtown area to make them marketable for sale or lease. The subsidies would paid for with the tax revenue “captured” from other local taxing authorities that funds DDAs. Also, to allow DDAs to establish and fund retail business “incubators,” which would essentially be buildings owned and operated by a DDA and rented at below-market rates to particular private retailers selected by the DDA board. These government-owned operations and subsidies would also be paid for with “captured” tax revenue.