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Committee approves substitute to restore enterprise-zone redevelopment timeline
Summary
A House committee approved a committee substitute to House Bill 416 to restore the original implementation timetable for an enterprise‑zone redevelopment mechanism tied to large capital projects.
A House Governmental Affairs committee approved a committee substitute to House Bill 416 that sponsors said is intended to restore the original timetable and implementation features of an existing enterprise‑zone statute.
Supporters told the committee the statute as written applies statewide and defines eligible enterprise zones as locations that have been chronically underdeveloped for 20 years or more and that host proposed redevelopment projects with a minimum of $400,000,000 in capital investment. Sponsor materials described the provision as enabling long‑term (30‑year) bonds tied to exemptions authorized under the law.
Committee members said delays in implementation after the law passed in the late 2010s prevented the original timetable from being met. The sponsor characterized the substitute as “simply an attempt to get us back to what the intent of the legislation was originally,” and said it makes no other substantive policy changes.
The committee voted to adopt the committee substitute by voice vote; the record shows the motion carried. The committee did not record a roll‑call tally in the transcript.
The committee chair moved to the next agenda items after the vote.
