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2022 House Bill 5972: Authorize another “tax increment finance” scheme
Introduced by Rep. Mike Mueller R-Linden on March 24, 2022
To expand the things for which local governments can impose “tax increment finance authority” (TIFAs) that "capture" the “increment” of extra local property tax revenue that supposedly will result from spending borrowed money on various subsidies and projects, and use it pay off the debt. Specifically, the bill would make local spending on a “water trail and land up to one mile from the bank or shoreline” eligible for these tax “captures”.   Official Text and Analysis.
Referred to the House Local Government and Municipal Finance Committee on March 24, 2022