Legislative record

Tax increment financing districts.

Provides that a redevelopment commission may use money from certain funds for the purpose of retiring debt service earlier. Provides that a redevelopment commission making accelerated debt payments may retain the assessed value associated with the original debt service schedule. Requires a redevelopment commission to include an invitation to overlapping taxing units to participate in the hearing regarding a proposed redevelopment project. Allows a redevelopment commission to expend money for the maintenance of an infrastructure project within a tax increment financing district if: (1) the infrastructure project was originally funded or supported by tax increment financing funds; and (2) the use of the funds is limited to the remaining life of the project. Allows a redevelopment commission to share tax increment finance district revenue with certain local economic development organizations under certain conditions.