SB 840
Modifies provisions relating to the increment financing
Sponsor:
LR Number:
4400S.01I
Last Action:
2/20/2020 - Second Read and Referred S Local Government and Elections Committee
Journal Page:
Title:
Calendar Position:
Effective Date:
August 28, 2020

Current Bill Summary

SB 840 - This act allows a school district to exclude real property from a proposed tax increment financing redevelopment area if the school district determines that such redevelopment area will have an adverse effect on such school district. The school district shall adopt a resolution making such determination and shall deliver the resolution to the municipality establishing the redevelopment area. Within thirty days of receiving the resolution, the municipality shall remove such property from the redevelopment area or terminate the redevelopment area.

This act is substantially similar to SB 1080 (2020), HB 1350 (2020), and to a provision contained in HCS/SCS/SB 616 (2020).

JOSH NORBERG

Amendments

No Amendments Found.