HB 14-1375 Passes Senate; Veto Request in the Works

HB 14-1375, a bill that will negatively impact the use of the urban renewal tool of tax increment financing throughout the state, passed the Senate on Wed., May 7, 2014, and is headed to Gov. Hickenlooper’s desk for signature. Upon receipt, the governor will have 30 days to sign the bill, veto the bill, or allow it to pass into law without his signature.

Following is an overview of some of the key provisions in the bill. Many of our clients and fellow stakeholder groups are discussing the submittal of a veto request. Please let us know if you would like to participate in that effort, or if you would like an individualized analysis of how this legislation is likely to affect your existing or planned urban renewal community, area or project.

Please see full alert below for more information.

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Topics:  Legislative Process, Redevelopment, Tax Increment Financing, Urban Planning & Development

Published In: Elections & Politics Updates, Finance & Banking Updates, Tax Updates, Zoning, Planning & Land Use Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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