2009 Senate Bill 358 ↩

House Roll Call 553: Passed

To authorize the creation of two additional “certified technology parks” ("smart zones") in which “tax increment financing” is used to provide infrastructure or other subsidies to technology-based businesses. These authorities "capture" the extra local property tax revenue that (hopefully) results from property value growth generated by certain improvement projects (or selective business subsidies) the authority undertakes (or grants).