require the review of a financing plan to establish a tax increment financing district.

Summary

The bill would make it mandatory for a local governing body to submit both the project plan and its financing plan for a proposed tax increment financing (TIF) district to an independent third party. The reviewer must provide a cost‑benefit analysis, projected changes in property‑tax distribution, and estimates of impacts on jobs, housing and economic output. This adds an extra layer of oversight to ensure TIF projects benefit the community before they are approved.

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

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