Tax increment financing districts.

Summary

The measure would allow redevelopment commissions in tax increment financing (TIF) districts to use existing funds to pay down debt ahead of schedule and keep the original assessed‑value base. It also requires public hearings that invite overlapping taxing units and permits commissions to spend TIF money on maintaining infrastructure that was originally funded by TIF, as well as to share revenue with local economic‑development groups under set conditions. The bill adds reporting deadlines and notice requirements to increase transparency.

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

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