HB1247

This bill lowers the threshold for when cities must recalculate their tax increment finance base after adding project costs, changing the exemption from 35 percent to 15 percent of the original project plan amount. Under the new rule, cities will need to redetermine their tax base more often when they approve additional costs, since even smaller cost increases (15 percent instead of 35 percent) will now trigger a recalculation requirement.

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