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Senate advances tax-increment measure to help RDAs finance infrastructure projects
Summary
Senate Bill 212 would let redevelopment agencies use tax-increment financing to fund targeted infrastructure, the sponsor cited an underpass project as an example; the Senate placed the bill on the third-reading calendar after roll call.
Senate Bill 212, presented Feb. 25, would permit redevelopment agencies to use tax-increment financing to fund infrastructure work tied to existing redevelopment projects.
Sponsor Senator Mansell said the bill is intended to help local governments raise matching funds for infrastructure projects and cited an underpass at 100 South as an example where RDAs could deploy tax-increment dollars to finance the work. "This is the bill that I talked to you about some time ago that would be coming to assist in helping to, finance the underpass at a hundred south to go under the freeway," Mansell said on the floor.
Senator Jones and others asked how redevelopment revenues would be protected for school districts; the sponsor said local governments had passed resolutions to hold Jordan School District harmless in a cited case. Senators then called the question and recorded a roll-call vote sending SB212 to the third-reading calendar (27 ayes, 2 nays, 2 absent).
Next steps: SB212 is now on the Senate’s third-reading calendar for final consideration; local governments and school districts may continue to negotiate revenue protections and intergovernmental agreements tied to any RDA use of tax-increment funds.
