Introduced by Rep. Daniela Garcia (R) on February 24, 2015 To increase from three to nine the number of areas in which “certified technology parks” (previously dubbed "smart zones") are allowed to expand by creating a "satellite" zone. These entities use “tax increment financing” to provide infrastructure or other subsidies to technology-based businesses. Like the better-known Downtown Development Authorities, they collect the extra local property tax revenue that (hopefully) results from property value increases generated by their selective subsidies and projects. Official Text and Analysis.
Referred to the House Commerce and Trade Committee on February 24, 2015
Reported in the House on May 12, 2015 With the recommendation that the substitute (H-1) be adopted and that the bill then pass.