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House committee backs bill requiring public hearings before extending TIF districts for bond payments
Summary
House Bill 19, requiring public hearings and invitations to other taxing entities before pledging tax increment to pay bonds and extending tax increment financing districts, passed second reading 100-0 after sponsor said it creates a dialogue among affected taxing entities.
The Montana House unanimously advanced House Bill 19 after the committee recommended the bill "do pass" and the clerk recorded 100 aye votes.
Representative Brewster, sponsor of the bill, said HB 19 requires a public hearing before a tax increment financing (TIF) district pledges tax increment to pay bonds that would extend the termination date of a TIF district. Brewster said the measure directs districts to invite other taxing entities to the hearing so they can discuss whether to extend a TIF district, rebase the increment, end the district, or consider other options that would restore tax revenue to taxing jurisdictions.
Brewster said the bill does not compel a municipality or governing authority to dissolve or extend a district; it only requires dialogue with affected taxing entities before pledging tax increment for bond payments that extend a district's termination date.
Motion and vote: Representative Brewster moved that the committee recommend House Bill 19 "do pass." The clerk recorded 100 ayes and 0 no votes; the bill passed second reading.
Next steps: HB 19 will proceed through the legislative process for further consideration.
