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2019 SESSION

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SB 1634 Economic revitalization zone, local; towns may establish.

Introduced by: Jennifer B. Boysko | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Economic revitalization zone. Allows any town, by ordinance, to establish one or more economic revitalization zones for the purpose of providing incentives to private entities to purchase real property and interests in real property to assemble parcels suitable for economic development. This authority is currently available only to cities. Each town establishing an economic revitalization zone may grant tax incentives and provide regulatory flexibility. Properties that are acquired through the use of eminent domain shall not be eligible for the incentives and regulatory flexibility provided by the ordinance.


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