SB 624 – Allows certain contributions to downtown revitalization preservation development projects to be substituted on a dollar-for-dollar basis for the local match in lieu of taxes and economic activity taxes

• Sponsor: Shoemyer
• LR Number: 3293S.01I
• Committee: Ways and Means
• Last Action: 2/8/2010 - Hearing Conducted S Ways and Means Committee
• Effective Date: August 28, 2010

Current Bill Summary

SB 624 - This act allows contributions to a downtown revitalization preservation development project from any private not-for-profit organization or local contributions from tax abatement or other sources to be substituted on a dollar-for-dollar basis for the local match of 100% of economic activity taxes from the development's fund.

This act is similar to Senate Bill 479 (2009) and House Bill 746 (2009).

JASON ZAMKUS