SB 0254 Transportation Development Districts - Formation, Funds
Committee:TRANLR Number:L1135.01I
Last Action:02/07/95 - Hearing Conducted S Transportation Committee
Effective Date:August 28, 1995
All Actions | Senate Home Page | List of 1995 Senate Bills
Current Bill Summary

SB 254 - Transportation development districts may be created by petition of the owners of all of the real property in the district. No vote shall be required. The court shall certify the district and its stated funding methods.

BOARD OF DIRECTORS - After the organization of any district, the court clerk shall publicize a meeting of the owners of real property in the district. The owners shall elect a board of 5 to 15 directors. They shall vote according to acreage owned. Directors need not be residents of the district.

FUNDING - Districts may use tax increment financing to raise funds. Special assessments may be approved by a petition by all of the property owners. The form for the petition is specified. The limit on total sales tax rates of 1/2% for tranportation and capital improvements is repealed. Sales taxes may not be repealed until the district is able to repay its liabilities. Sales taxes are no longer limited to districts which have the same boundaries as cities and counties. Districts may mortgage property which they obtained by eminent domain.