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Bill would let landowners form districts to finance infrastructure; supporters tout new supply, Sierra Club warns of private financing risks
Summary
Legislation discussed in a House subcommittee would allow landowners in a defined area to form improvement districts that issue private financing to build government-owned infrastructure such as roads, water and schools.
A proposed long bill (roughly described as LC966 in the hearing) would create a mechanism for landowners to form locally approved improvement districts that issue private bonds to finance public infrastructure — roads, water, sewer, schools and parks — within a defined area.
“Only the landowners in this ... district would tax themselves, if you will,” the bill presenter said during the hearing, describing the measure as a private financing mechanism for government-owned infrastructure that would be placed on deeds in large print to notify future buyers.
The nut graf: proponents, including county commissioners and…
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