SB 114 – Allows school and library districts to be reimbursed for 50% of their tax increment under a TIF plan

• Sponsor: Kraus
• LR Number: 0150S.04I
• Committee: Jobs, Economic Development and Local Government
• Last Action: 3/4/2015 - Hearing Conducted S Jobs, Economic Development and Local Government Committee
• Effective Date: August 28, 2015

Current Bill Summary

SB 114 - For tax increment financing projects approved after August 28, 2015, school districts and library districts shall be entitled to a 50% reimbursement of their tax increments.

This act is similar to a provision in SB 213 (2013).

MIKE HAMMANN