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Senate Bill 1 updates definition of 'blighted area' used for tax increment financing, bill supporters say
Summary
Senate Bill 1 would modernize and clarify Montana's statutory definition of "blighted area" used to create urban renewal/TIF districts; cities, chambers and development groups testified in support, saying clearer criteria will help local redevelopment decisions.
Senator Greg Hertz told the House Taxation Committee Senate Bill 1 revises the statutory definition of "blighted area" for municipalities exercising urban renewal powers and aims to modernize duplicative or outdated language in current code.
"This bill came out of the revenue interim committee, and what we're trying to do is update the definition of blight," said Senator Greg Hertz, sponsor. He told the committee the bill consolidates and clarifies language so local decision-makers can rely on…
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