SB 104 IN Passed One Chamber
Residential tax increment financing.
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Summary
Provides, in the case of an allocation provision adopted after June 30, 2025, for a residential housing development program, that the redevelopment commission (commission) shall annually transfer at least 5% of the aggregate allocated tax proceeds from the allocation area to the unit that established the commission. Specifies that the unit must use the revenue for police and fire services that serve the allocation area.
Sponsors (4)
- Rick Niemeyer Republican · author
- Dan Dernulc Republican · author
- Mike Bohacek Republican · author
- Harold Slager Republican · sponsor
3 coauthors / cosponsors
- Lonnie Randolph Democratic · coauthor
- Julie Olthoff Republican · cosponsor
- Mike Aylesworth Republican · cosponsor
Action history (13)
- Jan 8, 2025 Authored by Senator Niemeyer · upper
- Jan 8, 2025 First reading: referred to Committee on Tax and Fiscal Policy · upper
- Jan 28, 2025 Committee report: do pass, adopted · upper
- Jan 28, 2025 Senator Dernulc added as second author · upper
- Jan 28, 2025 Senator Bohacek added as third author · upper
- Feb 6, 2025 Second reading: amended, ordered engrossed · upper
- Feb 6, 2025 Senator Randolph added as coauthor · upper
- Feb 6, 2025 Amendment #2 (Niemeyer) prevailed; voice vote · upper
- Feb 10, 2025 Third reading: passed; Roll Call 83: yeas 46, nays 3 · upper
- Feb 10, 2025 Cosponsors: Representatives Olthoff and Aylesworth · upper
- Feb 10, 2025 House sponsor: Representative Slager · upper
- Feb 11, 2025 Referred to the House · upper
- Mar 3, 2025 First reading: referred to Committee on Ways and Means · lower
Subjects
BOARDS, COMMISSIONS, AND COUNCILS; GenerallyHEALTH; Emergency Medical Services (EMS)PROPERTY; HousingSOCIAL SERVICES; HousingTAXES; GenerallyZONING AND PLANNING
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