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2021 Senate Bill 99: Revise “promise zone” tax increment financing authority detail
Introduced by Sen. Rosemary Bayer D-Beverly Hills on February 3, 2021
To add paying for on-campus room and board to the benefits a local government “promise zone” tax increment financing authority (TIFA) may provide to students eligible for its scholarships. These entities were authorized in 2008 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.   Official Text and Analysis.
Referred to the Senate Appropriations Committee on February 3, 2021
Reported in the Senate on June 10, 2021
With the recommendation that the bill pass.
Received in the House on December 2, 2021
Referred to the House Appropriations Committee on December 2, 2021