Description: Brownfield property; authorize those who incur costs of remediation to receive percentage of added ad valorem tax revenue.
Bill Text: [Introduced]
History of Actions:
|1||01/17 (H) Referred To Municipalities;County Affairs|
|2||02/01 (H) Died In Committee|
|Effective date||July 1, 2005|
|Deadline||General Bill/Constitutional Amendment|
|Vote type required||Majority|
Principal Author: Ellington
Title: AN ACT TO PROVIDE THAT THE BOARD OF SUPERVISORS OF ANY COUNTY AND THE GOVERNING AUTHORITIES OF ANY MUNICIPALITY MAY AUTHORIZE ANY PERSON WHO INCURS REMEDIATION COSTS RELATING TO A BROWNFIELD PROPERTY TO RECEIVE A CERTAIN PERCENT OF THE ADDED INCREMENTS OF MUNICIPAL AND COUNTY ADVALOREM TAX REVENUES DERIVED FROM THE PROPERTY BECAUSE OF THE REMEDIATION; AND FOR RELATED PURPOSES.
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