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Senate committee hears bill to require advisory committees for TIF districts
Summary
Senate Bill 3 would require districts that use tax increment financing to create advisory committees including affected taxing jurisdictions; proponents said the change increases transparency and collaboration, opponents none at the hearing.
Senator Jeremy Trevis (Great Falls, District 10) introduced Senate Bill 3 to the Senate Tax Committee, proposing that a district using tax increment financing (TIF) must create an advisory committee that includes representatives of overlapping taxing jurisdictions. The bill was presented at a committee hearing as a recommendation of the Revenue Interim Committee.
Trevis described TIF as a mechanism that freezes a base taxable value inside a defined district and directs the growth — the increment — back into development inside the district rather than to other taxing jurisdictions. He told the committee the advisory committee requirement is a “light touch” intended to give school districts, counties and other affected taxing jurisdictions a formal seat at the table to provide input on development that diverts incremental tax…
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