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Conference committee members outline $200 million cap and 2035 sunset for CHIP and TIF
Summary
Members of the Senate–House conference committee on S127 said May 30 they planned to propose a package that includes a $200 million cap, staggered increment-retention rates, and a 2035 sunset for both CHIP and TIF, and that they were prepared to sign a document while some members sought quick confirmation from colleagues.
Conference committee members negotiating the Senate–House conference committee on S127 said May 30 they would propose a package that includes a $200,000,000 cap, increment-retention rates of 75% and 85%, and a 2035 sunset for both CHIP and TIF, and that they were prepared to sign a document reflecting those terms.
The proposal matters because it would set a hard cap on the program funds and align sunset dates for two programs. Conference committee member 1, a member of the Senate–House conference committee, summarized the package and said the group was prepared to sign: "That is a $200,000,000 cap, the increment retention at $75.85, a $20.35 sunset both chip and TIF, the…
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