Fiscal Note

SB0205 - Community Development and Renewal Agency Amendments

State Impact:
Enactment of this bill will not require additional appropriations.

Individual, Business and/or Local Impact:
Enactment of this bill extends for five years the tax increment amount of industrial sites and inactive airports that can be diverted from local taxing entities. Certain individuals could be impacted in that this bill could reduce the number of low income housing units created annually; the housing provision could also shorten the time period of projects. On the provision related to telecommunication facilities, this may decrease the bonding ability of the agencies referred to in the bill; this provision may also provide more price competition between service providers.