This bill removes the ability of tax increment financing districts to issue grants to developers or other organizations as part of their financing activities. The changes eliminate the definition of "grant" from state law and streamline related provisions, meaning cities and counties can no longer use tax increment financing district funds to directly transfer money or property to outside parties for development projects.
Taxation Tabled Passed, YEAS 4, NAYS 0. S.J. 17
Taxation Scheduled for hearing
First read in Senate and referred to Senate Taxation S.J. 142
Prime sponsor · Sen.
R
Taxation — Tabled