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Committee advances amendment requiring residential TIFs to allocate 5% of annual increment growth to public safety
Summary
Senate Bill 104 would require new residential tax increment financing (TIF) districts established on or after July 1, 2025 to dedicate 5 percent of annual incremental growth above the TIF baseline to public-safety costs (police, fire, EMS). Supporters said the requirement helps ensure development-driven demands on emergency services are funded;
Senator Niemeyer presented Senate Bill 104, a bill focused on residential tax increment financing districts. The amendment requires a five percent pass‑through of annual incremental growth in newly created residential TIF districts (effective for districts established after July 1, 2025) to be directed to public‑safety needs — police, fire or emergency medical services — to…
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