Provides incentives for expanded downtown redevelopment projects approved by DNR

Summary

The bill would revive and broaden the MODESA program, letting developers expand approved downtown redevelopment areas and receive up to 85% of estimated state income and sales tax increments. It also lengthens repayment periods to 35 years and removes several financing restrictions. The goal is to spur private investment, job creation, and tax revenue in urban cores.

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

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