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Conference negotiators propose 10-year TIF review, keep 35-year sunset in omnibus housing talks
Summary
During a Senate–House conference on the omnibus housing bill (H.1 / S.127), negotiators presented a "last best offer" that would align tax increment financing (TIF) review with a 10-year lookback, remove a cap on increment retention, and retain a 35-year sunset; no formal vote was recorded.
At a Senate–House conference on H.1 and S.127 about the omnibus housing bill, conference members presented a "last best offer" that would align tax increment financing review with the TIF statute’s 10-year review, remove a cap on increment retention and keep a 35-year sunset, Speaker 1, a conference member, said.
The change would move the point at which municipalities and districts adjust the percentage of tax increment retained to the 10-year mark, matching the review interval used in existing TIF practice, Speaker 5, a conference member, said. "That language came directly from the TIF statute. It has a 10 year review," Speaker 5 said.
Conference negotiators…
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