Bill Title: Residential tax increment financing. Permits a redevelopment commission to establish a program for residential housing development and a tax increment funding allocation area for the program if the average of new, residential houses constructed in the county or municipality in the preceding three years is less than 1% of the total number of residential houses in the county or municipality. Requires the department of local government finance, in cooperation with appropriate county and municipal agencies, to determine eligibility for the program. Provides that a program may not take effect until the governing body of each school corporation affected by the program passes a resolution approving the program. Defines "residential housing" as housing or workforce housing that consists of single family dwelling units sufficient to secure quality housing in reasonable proximity to employment.

Spectrum: Moderate Partisan Bill (Republican 6-1)

Status: (Passed) 2019-05-05 - Public Law 235 [SB0566 Detail]

Text: Latest bill text (Enrolled) [PDF]

---

Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Jeff Raatz [R]	Primary	Sponsored Bills	SD-027	FollowTheMoney	Ballotpedia	VoteSmart
Senator Travis Holdman [R]	Primary	Sponsored Bills	SD-019	FollowTheMoney	Ballotpedia	VoteSmart
Senator Greg Taylor [D]	Cosponsor	Sponsored Bills	SD-033	FollowTheMoney	Ballotpedia	VoteSmart
Senator Linda Rogers [R]	Cosponsor	Sponsored Bills	SD-011	FollowTheMoney	Ballotpedia	VoteSmart
Representative Jim Pressel [R]	Primary	Sponsored Bills	HD-020	FollowTheMoney	Ballotpedia	VoteSmart
Representative Todd Huston [R]	Primary	Sponsored Bills	HD-037	FollowTheMoney	Ballotpedia	VoteSmart
Representative Dave Heine [R]	Primary	Sponsored Bills	HD-085	FollowTheMoney	Ballotpedia	VoteSmart

Social Comments on IN SB0566