Rule 3-9(a) / Re-referred to Assignments
Summary
The bill amends the Statewide Innovation Development and Economy Act to establish New Opportunities for Vacation and Adventure (NOVA) urban districts, setting investment and job‑creation thresholds for certification. It also changes the Property Tax Code to allow properties that receive a megaproject certificate from the Department of Commerce and Economic Opportunity to freeze their tax assessments, and includes rules for megaproject incentive agreements. These changes aim to spur large tourism, entertainment, and retail projects and attract private investment.
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