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Conference draft keeps incremental tax‑retention cap, sets five‑year review and new annual reporting for S.127
Summary
The House counteroffer retains a cap on incremental tax retention, includes a five‑year review, a $5 million booster option and asks for annual reporting of aggregate lifetime education and property tax increment retention approved in the year.
Conference committee discussion of S.127 on Jan. 27 left a cap on incremental retention in place in the House counteroffer and added several implementation provisions, committee participants said.
The House draft proposes that the cap remain but asks the administering agency to return to the committees of jurisdiction after the program’s first years with a recommendation on an appropriate limit based on actual annual approvals. Committee staff said the text also contains a $5 million “booster” available if the agency…
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