2019 House Bill 4159 ↩

Senate Roll Call 532: Passed

To expand the expenses local brownfield redevelopment authorities can cover and subsidize with "captured" tax revenue, and require some additional disclosures. 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 are supposed to result from spending the borrowed money on various developer subsidies and local improvement projects.