Relating to tax increment financing at rural airports.
Catchline/Summary:
Directs Economic and Community Development Department to establish program to create airport tax increment financing districts, with approval of cities, counties and other local property taxing jurisdictions with taxable lands in district. Directs Economic and Community Development Department to establish program to create airport tax increment financing districts, with approval of cities, counties and other local property taxing jurisdictions with taxable lands in district. Allows airport sponsor to use up to 50 percent of incremental property tax revenues generated by commercial and industrial development or expansion within district to pay for airport-related infrastructure projects and services for period of up to 25 years.
Chapter Number:
Fiscal Impact:
May Have Fiscal Impact, But No Statement Yet Issued
Revenue Impact:
May Have Revenue Impact, But No Statement Yet Issued
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SB 439 Senate Committee On Business and Transportation
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