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Committee adopts H-2 substitute for House Bill 5031 to limit TIF capture extensions
Summary
The House Committee on Economic Competitiveness adopted an H-2 substitute for House Bill 5031 that would cap TIF capture extensions at 15 years instead of 30 and clarify extension rules for certified technology park satellites; the committee voted unanimously among voting members with one pass.
The House Committee on Economic Competitiveness adopted an H-2 substitute for House Bill 5031 during its meeting, moving the bill out of committee with a recommendation.
Representative Robinson, who offered the bill and the substitute, told the committee that “the h 2 substitute is expected to be offered to limit, TIF capture extensions for 15 years rather than the 30 years.” He also described a change to define a “parent certified technology park” as one that has…
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