Tax Increment Amendments

Summary

The bill revises how much of a property tax increment can be captured in public transit counties, restricting projects to a 1/3‑mile radius of a transit hub and no more than 125 noncontiguous acres. It caps the capture at up to 50% of the increment for a maximum of 15 consecutive years per parcel, within a 30‑year overall period. The changes aim to tighten control over tax‑increment financing tied to housing and transit projects.

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

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