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Committee advances HB2737 to allow alternative TIF financing using developer agreements
Summary
The committee passed HB2737 favorably as amended to create an alternative financing mechanism for tax increment financing that would allow developers to use a city's bond rating and secure financing with property tax liens; committee adopted a technical amendment correcting a mistaken statutory cross-reference before passing the bill by voice vote.
The Committee on Commerce, Labor and Economic Development advanced House Bill 2737 favorably as amended after brief discussion and a technical correction.
Revisor Reimer described HB2737 as creating an alternative financing mechanism for tax increment financing (TIF): a taxpayer agreement permitting a developer to…
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