Class 2 municipalities; tax increment districts, further provided

Summary

The bill amends state law so Class 2 municipalities can include up to 50 % of the total value of equalized taxable property in tax increment districts, matching the allowance for Class 3 cities. It changes the cap that previously limited most jurisdictions to 10 % and adds procedural steps for creating such districts. This expands local tools for financing redevelopment and economic‑development projects.

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