Introduced by Rep. Jody Richards (D) on February 14, 2005 To allow cities with a population of at least 20,000 to finance up to 100% of the cost of a professional sports facility project with property tax revenues in a so-called Tax Increment Finance District. Under current law, only 25% of the cost may be funded with such revenues. The bill would also exempt such projects from a required “net positive economic impact” review that would be mandated for other such projects. Official Text and Analysis.
Referred to the House Economic Development Committee on February 15, 2005