In CommitteeFiled Feb 6, 2026
Sponsor: Jay Hoffman
Latest Action
Rule 19(a) / Re-referred to Rules Committee
Mar 27, 2026
Summary
The bill amends the Statewide Innovation Development and Economy Act to establish New Opportunities for Vacation and Adventure (NOVA) urban districts and to allow an assessment freeze on properties that receive a megaproject certificate. It sets capital‑investment and job‑creation thresholds for districts and modifies the Property Tax Code to give tax relief to qualifying projects. The aim is to attract large tourism, entertainment, and retail developments that the private sector could not fund alone.
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