SB 598 – Modifies provisions related to tax increment financing so that school districts and library districts are reimbursed for tax revenue the districts would have received

• Sponsor: Dempsey
• LR Number: 4735S.02I
• Committee: Ways and Means and Fiscal Oversight
• Last Action: 1/26/2012 - Second Read and Referred S Ways and Means and Fiscal Oversight Committee
• Journal Page: S160
• Effective Date: August 28, 2012

Current Bill Summary

SB 598 - With regard to tax increment financing, this act requires that a school district or library district be reimbursed from the special allocation fund for tax revenue the district would have received. The provisions of this act only apply to tax increment financing projects approved on or after August 28, 2012.

EMILY KALMER