Introduced
by
To expand from 10 to 15 the number of “promise zone” tax increment financing authorities (TIFA) located in low income and “low educational attainment” areas. These entities were authorized by a 2008 law to “capture" a portion of any increases in the state portion of school property tax revenue in the area, and use the money to partially subsidize college tuition for local students.
Referred to the Committee on Economic Development and International Investment
Reported without amendment
With the recommendation that the substitute (S-2) be adopted and that the bill then pass.
Passed in the Senate 36 to 0 (details)
Referred to the Committee on Workforce and Talent Development
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Passed in the House 98 to 9 (details)
To impose additional reporting requirements on “promise zone” tax increment financing authorities located in low income and “low educational attainment” areas, and provide a means for dissolving them. These entities were authorized by a 2008 law to “capture" a portion of any increases in the state portion of school property tax revenue in the area, and use the money to partially subsidize college tuition for local students.
Passed in the Senate 38 to 0 (details)
