To give local "tax increment financing authorities" the power to borrow and spend on infrastructure projects and subsidies that promote the use of mass transit and are within a half mile of a transit station. The debt is paid by "capturing" a portion of increased property taxes that would otherwise be available to local governments to pay for their own operations (or for tax cuts).
34 Yeas / 0 Nays | |
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Democrat (14 Yeas / 0 Nays) | |
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Excused or Not Voting (3) | |
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