Committee forwards HB 2451 on tax-increment financing changes to Ways and Means
The committee recommended engrossed second substitute House Bill 2451 to the Ways and Means Committee; staff said the bill tightens rules for creating local tax increment financing areas, requires sunset dates and construction-start deadlines, and establishes negotiation and arbitration processes for impacted taxing districts.
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The Senate Local Government Committee voted by voice to recommend engrossed second substitute House Bill 2,451 to the Ways and Means Committee. Committee staff summarized the bill's primary changes and fiscal implications before the motion and vote.
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