SB 874
Allows school districts to remove certain property from tax increment financing districts
Sponsor:
LR Number:
3325S.01I
Committee:
Last Action:
5/11/2022 - Formal Calendar S Bills for Perfection
Journal Page:
Title:
Calendar Position:
5
Effective Date:
August 28, 2022

Current Bill Summary

SB 874 - 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 identical to SB 247 (2021) and SB 840 (2020), and 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.