Promoting economic development and community revitalization.
Summary
Expands the community revitalization program to allow local governments to finance public improvements not only using increased property tax revenues, but also excess excise tax revenues, and revenue generated through a sales and use tax, up to $1 million per year, per project, credited against the state sales and use tax in an increment area.
Limits the annual aggregate amount of new local sales and use taxes that may be credited against the state tax to $5 million initially.
From the House Bill Analysis (SB 5325), written by the Legislature's nonpartisan staff. Read the full report ↗
Did not passDid not pass · passed Senate, stalled in House