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Committee approves bill allowing nested TIFs for Yum Center redevelopment in Louisville
Summary
House Bill 775, presented by Representative Jason Nemas, would allow a smaller tax increment finance (TIF) district within the existing Yum Center TIF in Louisville; the committee approved the bill as amended by a committee sub and discussed protections requiring local and bond insurer approvals.
The House Standing Committee on Economic Development and Workforce Investment on Wednesday passed House Bill 775 as amended, a bill that would allow a smaller tax increment financing (TIF) district to be established inside the existing Yum Center TIF in Louisville, sponsor Representative Jason Nemas said.
"What we're trying to do is allow a new TIF within the TIF," Representative Jason Nemas, sponsor of HB 775, told the committee, saying the change "is not gonna cost any money to the state" and that the Yum…
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