SB 247 - This act allows a school district to exclude real property from a proposed tax increment financing redevelopment area if the school district determines that such redevelopment area will have an adverse effect on such school district. The school district shall adopt a resolution making such determination and shall deliver the resolution to the municipality establishing the redevelopment area. Within thirty days of receiving the resolution, the municipality shall remove such property from the redevelopment area or terminate the redevelopment area.

This act is identical to SB 840 (2020) and is substantially similar to SB 1080 (2020), HB 1350 (2020), and to a provision contained in HCS/SCS/SB 616 (2020).