Tax increment districts, Major 21st Century Manufacturing Zone allowed to be located within a tax increment district without regard to size of district and further provides for use of ad valorem tax revenues collected within a district

Summary

The bill lets a Major 21st Century Manufacturing Zone of at least 250 acres be located within any tax increment district, no matter how big the district is. It also permits ad valorem taxes collected in the district to reimburse public entities for land they bought before the district was created. The change is intended to make it easier to develop big manufacturing projects and fund early land costs.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share