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• Introduced by Sen. Jason Allen (R) on May 1, 2007, to establish that a local government may choose to back the loans of a historic neighborhood tax increment finance authority with a limited tax pledge, or if it gets a vote of the people, agree to back the authority’s debt with a full faith and credit pledge, which means that the municipality is promising to raise taxes if necessary to repay money borrowed by the authority.
  • Referred to the Senate Commerce & Tourism Committee on May 1, 2007.