SB 17 – Redevelopment Commissions and TIF

SB 17 concerning redevelopment commissions and Tax Increment Financing passed the Senate 47 – 0. I haven’t read it through to understand all of it, and what I do understand is too dull to recount at the moment. But, generally, the bill limits the maximum time for bond issues for economic development; alters the decision making process for TIF allocation areas; and specifies the applicability of the petition and remonstrance process for TIF allocation areas.