Summary
Bill 24-1172 creates a process for counties to establish a revitalization authority. A county revitalization authority is a corporate body that uses tax increment and private financing to create and implement a county revitalization project through a revitalization plan. Before commencing a revitalization project, the county must designate an area as a revitalization area at a public hearing. A revitalization area is a segment of a county that could improve the overall health, safety, wellness, and growth of the county as a whole upon implementation of a revitalization plan there. If this bill passes, county revitalization authorities would have numerous powers and abilities, including the power to rezone or replan property in a revitalization zone, the power of eminent domain, and the ability to issue bonds and make relocation payments to families displaced by a revitalization authority.
Legislative Update
- 2024-04-17 / Engrossed
Senate Third Reading Passed – No Amendments - 2024-04-16
Senate Second Reading Passed – No Amendments - 2024-04-11
Senate Committee on Local Government & Housing Refer Unamended – Consent Calendar to Senate Committee of the Whole - 2024-03-18
Introduced In Senate – Assigned to Local Government & Housing - 2024-03-11
House Third Reading Passed – No Amendments - 2024-03-08
House Second Reading Special Order – Passed with Amendments – Committee, Floor - 2024-03-05
House Committee on Transportation, Housing & Local Government Refer Amended to House Committee of the Whole - 2024-01-31 / Introduced
Introduced in House – Assigned to Transportation, Housing & Local Government
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