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Conferees debate TIF sunset as cap offers move between $40 million and $200 million
Summary
Senate conferees discussed linking a proposed tax-increment financing (TIF) cap to a TIF ‘sunset’ year, with one side proposing $40 million and no sunset while others described a $200 million cap paired with a sunset in 2035; negotiators paused to review recordings and reconvene.
Negotiators at a meeting of Senate conferees debated whether a proposed tax-increment financing (TIF) cap should be paired with a TIF “sunset” and paused to review recordings before continuing.
The dispute centered on competing offers: one side said it would accept a $40,000,000 cap if there were no TIF sunset, while other conferees described a package that included a $200,000,000 cap together with a TIF sunset in 2035. “With $40,000,000, no TIF sunset,” a participant said when describing the smaller offer. Another participant summarized the competing package as a larger cap with a 2035 sunset and said, “Our offer is on the table.”
Why it matters: Tax-increment financing is a common tool to fund development;…
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