Bill Text: MA S629 | 2009-2010 | 186th General Court | Introduced
Bill Title: For legislation relative to tax increment financing plan reporting
Sponsorship: Partisan Bill (Democrat 1)
Status: (Introduced - Dead) 2009-07-20 - House concurred [S629 Detail]
Download: Massachusetts-2009-S629-Introduced.html
The Commonwealth of Massachusetts
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PRESENTED BY:
Benjamin B. Downing
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To the
Honorable Senate and House of Representatives of the Commonwealth of
Massachusetts in General
��������������� Court assembled:
��������������� The undersigned legislators and/or citizens respectfully petition for the passage of the accompanying bill:
An Act relative to tax increment financing plan reporting.
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PETITION OF:
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Name: |
District/Address: |
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Benjamin B. Downing |
Berkshire, Hampshire and Franklin |
The Commonwealth of
Massachusetts
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In the Year Two Thousand and Nine
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An Act relative to tax increment financing plan reporting.
��������������� Be
it enacted by the Senate and House of Representatives in General Court
assembled, and by the authority of the same, as follows:
SECTION 1. Section 59 of chapter 40 of the General Laws, as appearing in the 2006 Official Edition, is hereby amended after paragraph (vii) by inserting the following paragraph:
(vii) provides a report to the city or town clerk and the economic assistance coordinating council detailing the status of the construction laid out in the plan; the current value of the property; the number of jobs created to date due to the plan; the salary of newly created positions; and, the plans, if any, to create additional jobs due to the exemption.� A report shall be filed every five years for the term of the tax increment exemption.� A final report shall be filed in the final year of the exemption.
SECTION 2.� The executive office of housing and economic development shall amend 760 CMR and the economic assistance coordinating council shall amend 402 CMR to reflect the changes implemented in Section 1.
