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Malloy says PIDs and some TIFs have become developer-friendly; supports reporting and more oversight
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Summary
Representative Corey Malloy told listeners that some public infrastructure districts (PIDs) and tax-increment financing (TIF) tools have created long-term assessment burdens for residents, and he backs reporting (HB 507) to ensure buyers know assessments up front.
Representative Corey Malloy said tools intended to help cities meet housing demand—public infrastructure districts (PIDs), tax-increment financing (TIF) and transit-area financing (HTRB/HRTB)—have sometimes been used in ways that favor developers and saddle residents with assessments.
"I don't think they're working... I'm gonna be not supportive of those," Malloy said of PIDs. He described supporting HB 507, a bill requiring upfront reporting so people know there will be an assessment before they move into a development.
Malloy cited a planned development near Thanksgiving Point and said his committee blocked a bill to expand transit-area financing because it would have increased long-term burdens. He warned residents can end up paying assessments on top of normal property taxes and that some districts can go bankrupt, raising questions about which government entity ultimately bears responsibility.
Why it matters: Special financing districts are widely used tools for infrastructure financing but carry long-term fiscal implications for residents, school revenues and municipal budgets. Malloy's comments indicate resistance within the legislature to further expansion without transparency and safeguards.
What remains unclear: The interview does not provide a comprehensive audit of outstanding PIDs or numeric estimates of additional tax burdens for specific developments; Malloy described the problem qualitatively and cited HB 507 as a transparency fix.
