HB 2315: Community revitalization

Summary

• C Allows cities and towns to create apportionment districts within their boundaries where community revitalization of blighted areas and unfit buildings and structures is financed by diverting a portion of the state = s B&O tax and sales and use tax collections, and a portion of the county = s and the city = s or town = s general sales and use tax collections, within the apportionment district.
• C Liens arising from assessments imposed by a county, city, or town, to pay the costs of removing or repairing unfit dwellings have first priority and are paid prior to liens for unpaid taxes.
• C Counties, cities, and towns may provide for community revitalization by: (1) Negotiating with the owners of substandard buildings for the government to acquire these buildings and the land on which they are located; (2) expending public and other moneys to improve these properties; or (3) if the property owner does not have sufficient finances to pay for the cost of improvements to substandard buildings, allowing the property owner to make installment payments to the county, city, or town for the costs of these improvements HOUSE ECONOMIC DEVELOPMENT, HOUSING & TRADE COMMITTEE

From the House Bill Analysis (HB 2315), written by the Legislature's nonpartisan staff. Read the full report ↗