| SB 0950 | Prohibits use of TIF for redevelopment projects that are primarily retail enterprises |
| Sponsor: | Goode | |||
| LR Number: | S3966.01I | Fiscal Note: | 3966-01 | |
| Committee: | Local Government and Economic Development | |||
| Last Action: | 03/02/98 - Referred S Local Government & Economic Development | Journal page: | S310 | |
| Committee | ||||
| Title: | ||||
| Effective Date: | August 28, 1998 | |||
SB 950 - This act prohibits use of tax increment financing
for redevelopment areas which are primarily retail enterprises,
as defined by standard industrial classifications 52 through 59.
Redevelopment projects may still be primarily retail enterprises
if the redevelopment area is part of a federal enterprise zone,
has residents who meet certain low income and high unemployment
criteria, or has been underutilized property for at least three
years.
RUSS HEMBREE