Committee introduces RS 32‑716 to add URD dissolution process, fire‑district opt‑out/opt‑in rules and single‑owner extensions
RS 32‑716 would create a process for cities to initiate dissolution of urban renewal districts (URDs), allow fire districts to opt out where there is no indebtedness, let fire districts opt in for new URDs, and permit single‑owner URDs to extend up to 20 years for manufacturing projects; committee introduced the RS after debate.
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The House Revenue and Taxation Committee introduced RS 32‑716 on Friday, a proposal that would add procedures for dissolving urban renewal districts, create opt‑out and opt‑in rules for fire districts, and allow limited single‑owner URDs to be extended up to 20 years to support certain manufacturing projects.
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