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2006 SESSION

• | print version

SB 575 Retail Sales and Use Tax; mixed use developments that include affordable housing.

Introduced by: Kenneth W. Stolle | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Sales tax exemption; mixed use developments that include affordable housing. Entitles a locality or a local redevelopment authority to the sales tax revenues generated on the premises of a mixed-use development that incorporates residential units, provided that at least 20 percent of the residential units are used for affordable housing. The mixed-use development would have to be certified by the Department of Housing and Community Development as a qualifying project. The sales tax revenues would be used to service the payments on obligations issued by the locality or the redevelopment authority for the mixed-use development. The entitlement to the sales tax revenues would not exceed 35 years. The obligations would have to be issued by July 1, 2010.

FULL TEXT

• 01/11/06  Senate: Prefiled and ordered printed; offered 01/11/06 069145820  pdf | impact statement

HISTORY

• 01/11/06  Senate: Prefiled and ordered printed; offered 01/11/06 069145820
• 01/11/06  Senate: Referred to Committee on Finance
• 02/14/06  Senate: Left in Finance (15-Y 0-N)