SB 725 - Crowell, Jason
Prohibits a municipality from adopting a redevelopment plan involving tax increment financing without a finding that the developer does not owe delinquent taxes
Bill Details
Sponsor
LR Number
5133S.01I
Title
SB 725
House Handler
N/A
Journal Page
Effective Date
August 28, 2012
Committee
Current Status
Second Read and Referred S Ways and Means and Fiscal Oversight Committee
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
SB 725 - This act prohibits a municipality from adopting a redevelopment plan under the Real Property Tax Increment Allocation Redevelopment Act, unless the municipality finds that the developer, and any business that the developer holds more than a two percent ownership interest in, does not owe any delinquent federal, state, or local taxes, or interest or penalties on these taxes.
EMILY KALMER