Travis Holdman
- Republican
- Senator
- District 19
Provides for an expiration date of an allocation area of not more than 50 years in the case of an allocation area established by the redevelopment commission of a qualified city for the purpose of financing a mixed use development project, but only if the legislative body of the qualified city adopts a resolution to approve an independent analysis with regard to the proposed development project that demonstrates the need for an allocation area that exceeds 25 years. Authorizes a qualified city, subject to the same requirement for a resolution of the legislative body, to enter into leases financed with incremental tax revenue from the allocation area for a term not to exceed 50 years for the purpose of financing a mixed use development project. Defines "qualified city" and "mixed use development project" for purposes of these provisions. Provides, that if in any state fiscal year the IEDC determines that it will award an amount of tax credits under $1,000,000, the IEDC must first receive state budget committee review. Establishes the regional economic acceleration and development initiative (READI) fund to provide grants and loans to support economic development and regional economic acceleration and development. Provides that the IEDC administers the fund. Provides that the board of the IEDC (board) may review applications for grants and loans from the fund. Allows the board to form a strategic review committee. Requires the IEDC to establish a policy for the regional economic acceleration and development initiative. Makes an appropriation.
Representative Heine added as sponsor
Representative Sullivan removed as sponsor
Representative Heine removed as cosponsor
First reading: referred to Committee on Ways and Means
Referred to the House
House sponsor: Representative Sullivan
Cosponsor: Representative Heine
Third reading: passed; Roll Call 152: yeas 45, nays 4
Amendment #1 (Holdman) prevailed; voice vote
Senator Charbonneau added as coauthor
Second reading: amended, ordered engrossed
Committee report: amend do pass, adopted
Senator Buchanan added as second author
Senator Zay added as coauthor
Authored by Senator Holdman
First reading: referred to Committee on Tax and Fiscal Policy
Bill Text Versions | Format |
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Introduced Senate Bill (S) | |
Senate Bill (S) | |
Engrossed Senate Bill (S) |
Document | Format |
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Fiscal Note: SB0215.03.ENGS.FN001 | |
Fiscal Note: SB0215.03.ENGS.FN002 |
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