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SB 108 - This act modifies local tax increment financing projects by providing that a study shall be conducted by a party other than the proponent of the redevelopment plan, which details how the area meets the definition of an area eligible to receive tax increment financing. This act modifies the definitions of "blighted area" and "conservation area". This act also provides that retail areas, as defined in the act, shall not receive tax increment financing unless such financing is exclusively utilized to fund retail infrastructure projects, as defined in the act, or unless such area is a blighted or conservation area. This act prohibits new projects from being authorized in any Greenfield area. This act is similar to SS/SCS/SB 859 (2018). JOSHUA NORBERG
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