Introduced
by
To authorize the creation of three additional “certified technology parks” in which “tax increment financing” is used to provide subsidies to technology-based businesses. A tax increment financing authority (TIFA) "captures" the increment of extra local property tax revenue that would result from the property value growth which might be generated by certain improvement projects (or selective business subsidies) the authority undertakes (or grants).
Referred to the Committee on Economic Development and Regulatory Reform
