Introduced by Sen. Laura Toy (R) on May 13, 2004, to authorize local governments to grant “industrial” plant rehabilitation tax abatements for commercial and commercial/residential mixed use dwellings. Recipients of these abatements are selected by the governing bodies of municipalities, and pay lower property taxes than the owners of other commercial or industrial properties which have not been granted abatements.
Referred to the Senate Commerce and Labor Committee on May 13, 2004.