modify requirements to create a tax increment financing district.

Summary

The bill updates the definition and creation process for tax increment financing (TIF) districts, tightening the criteria for district boundaries, blighted‑area requirements, and required approvals. It also adds a mutual‑consent rule so counties and municipalities must each approve a district that crosses their borders. The changes aim to ensure TIF districts are clearly defined and have demonstrable economic benefits before they are established.

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