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CS/HB 595: Revitalizing Municipalities

GENERAL BILL by Community and Military Affairs Subcommittee ; Nunez ; (CO-INTRODUCERS) Campbell ; Julien

Revitalizing Municipalities; Provides for transfer of sales tax revenues from GR Fund to Revenue Sharing TF for Municipalities; provides for distribution from Revenue Sharing TF for Municipalities relating to increase in sales tax collections over preceding year to governing body of area that receives tax increment revenues pursuant to designation as sales tax TIF area; revises provisions relating to enterprise zone development agency; provides powers of governing body upon designation of sales tax TIF area; provides designation of sales tax TIF areas as economic incentive in enterprise zones; creates "Municipal Revitalization Act"; authorizes governing bodies to create sales tax TIF areas within county or municipality having specified population; provides requirements, processes, & limitations relating to sales tax TIF areas; provides governing body for enterprise zone where sales tax TIF area is located is eligible for percentage distributions of increased state sales tax collections; requires DOR to determine amount of increased sales tax collections to be distributed to enterprise zone redevelopment agency & to transfer aggregate amount due to Revenue Sharing TF for Municipalities for distribution; provides requirements & conditions relating to such distributions of increased sales tax collections to governing bodies.

Effective Date: 7/1/2012
 Last Action: 3/9/2012 House - Died in Finance and Tax Committee
Bill Text: PDF


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Bill History

Date Chamber Action
11/8/2011 House • Filed
11/15/2011 House • Referred to Community and Military Affairs Subcommittee; Finance and Tax Committee; Economic Affairs Committee -HJ 60
1/10/2012 House • Introduced -HJ 59
1/23/2012 House • On Committee agenda-- Community and Military Affairs Subcommittee, 01/25/12, 8:00 am, Webster Hall
1/25/2012 House • CS by Community and Military Affairs Subcommittee; YEAS 13 NAYS 2 -HJ 310
1/30/2012 House • Pending review of CS under Rule 7.19(c)
• CS by Community and Military Affairs Subcommittee read 1st time -HJ 304
1/31/2012 House • Now in Finance and Tax Committee -HJ 318
2/17/2012 House • On Committee agenda-- Finance and Tax Committee, 02/21/12, 3:00 pm, 404 HOB --Workshopped
3/9/2012 House • Died in Finance and Tax Committee