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SB 155 - Under current law, a municipality desiring to approve a tax increment financing project, which has received a recommendation in opposition from the tax increment finance commission, may do so only by a two-thirds majority vote of the governing body of such municipality. This act would prohibit the governing body of municipality from approving a tax increment finance project if the tax increment finance commission makes a recommendation in opposition to such project. For the purpose of receiving comment on regional benefits, the act requires tax increment finance commissions to provide a copy of proposed tax increment finance projects to the designated metropolitan planning organization, the regional chamber of commerce, and any regional consortium of chief executive officers representing at least eighty percent of the region's largest mid-cap companies within fifteen days of the commission's receipt of such plan with a request for a public hearing from a municipality. JASON ZAMKUS
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