SB 311
Modifies provisions relating to tax increment financing
LR Number:
Last Action:
2/14/2019 - Second Read and Referred S Economic Development Committee
Journal Page:
Calendar Position:
Effective Date:
August 28, 2019

Current Bill Summary

SB 311 - This act modifies local tax increment financing projects by limiting such projects to redevelopment areas that are found to be blighted. This act also provides that a redevelopment area shall not be found to be blighted without a study conducted by a party other than the municipality and developer which details how the redevelopment area meets the definition of "blighted area".

This act modifies the definition of "blighted area".

This act also modifies the definition of "redevelopment plan" and "redevelopment area" to provide that such definitions shall not include "conservation areas" or "economic development areas".

This act prohibits new projects from being authorized in any Greenfield area.

This act is substantially similar to a provision contained in SS/SCS/SB 859 (2018) and HCS/HB 1236 (2018), and is similar to HCS/SS/SCS/SB 108 (2019), HB 698 (2019), and HB 32 (2019).



No Amendments Found.