Introduced
by
To exempt library property taxes from being “captured” by a local tax increment finance authority (TIFA) to pay for its various projects and subsidies, if specified obligations of the authority have been met. The bill would give library boards the option of whether to allow their property tax millage revenue to be “captured” by a TIFA.
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the bill pass.
Passed in the Senate 36 to 2 (details)
To exempt library property taxes from being “captured” (with some exemptions) by a local tax increment finance authority (TIFA) to pay for its various projects and subsidies, if specified obligations of the authority have been met. The bill would give library boards the option of whether to allow their property tax millage revenue to be “captured” by a TIFA.
Referred to the Committee on Tax Policy
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Substitute offered
by
To make the exemption prospective only, applying only to library millages approved after 2016.
The substitute passed by voice vote
Passed in the House 70 to 38 (details)
To exempt library property taxes from being “captured” (with some exemptions) by a local tax increment finance authority (TIFA) to pay for its various projects and subsidies, if specified obligations of the authority have been met. The bill would give library boards the option of whether to allow their property tax millage revenue to be “captured” by a TIFA.
Passed in the Senate 35 to 2 (details)
To concur with the House-passed version of the bill.
