News & Analysis as of

Tax Increment Financing

Amendments to Library TIF Legislation

by Dickinson Wright on

At the end of 2016, a series of bills were enacted into law that allowed library tax increments to be excluded from tax increment capture with respect to a number of authorities. However, the language of the bills was flawed....more

News from the Vermont Statehouse - An Analysis from DRM’s Government & Public Affairs Team - April 2017 #2

by Downs Rachlin Martin PLLC on

Senate Money Panel Passes Budget Bill - On a vote of 7-0, the Senate Appropriations Committee passed a $5.8 billion budget on Friday that closes a $72 million projected gap between revenues and expenditures in the 2018...more

Urban Renewal Applicability Bill Provides Certainty to Urban Renewal Community; Plus Two Other Urban Renewal Bills

On Friday, March 31, more than a year of ongoing discussions and negotiations among urban renewal stakeholders came to fruition with the introduction by Colorado State Sens. Rachel Zenziger (D – Arvada) and Beth Martinez...more

Demise of Bill Requiring Prevailing Wages for TIF-Funded Construction Contractors

by McGuireWoods LLP on

Maryland General Assembly House Bill 466, which would have required contractors to pay prevailing wages for construction funded by tax increment financing (TIF) bond proceeds, received an unfavorable report from the Economic...more

News from the Vermont State House - An analysis from DRM's Government & Public Affairs Team - February 2017 #3

by Downs Rachlin Martin PLLC on

Act 188 Plans On Hold as New Chemical Bill is Introduced - Nearly three years after the legislature passed a law to regulate children’s products containing chemicals of high concern, a web site intended to inform the...more

Trump Infrastructure Planning

by Bryan Cave on

In her nomination hearing with the Senate Commerce Committee, Secretary of Transportation Elaine Chao fielded questions about President Trump’s infrastructure proposal. On the fundamental question of “where will the money...more

Update: Michigan Library TIF Legislation

by Dickinson Wright on

Earlier this month, a package of bills was signed into law that would phase out the capture of tax increment revenues generated by library millages by downtown development authorities, tax increment finance authorities, local...more

Michigan Governor Signs Law Excluding Library Taxes from Capture by Tax Increment Financing Entities

by Miller Canfield on

On Jan. 9, 2017, Michigan Governor Snyder signed into law a package of bills, all with immediate effect, that would exempt certain taxes levied for library purposes from being captured by tax increment financing authorities,...more

What's an 18 hour city?

Ely Portillo, of the Charlotte Observer, brings us all up to speed on defining commonly thrown about real estate development jargon. Low-rise? Mid-rise? Mixed-use? Your guide to jargon in a city of cranes....more

Colorado Board of Equalization Approves TIF Property Tax Changes

On Oct. 5, 2016, the Colorado Board of Equalization (BOE) approved changes proposed by the Property Tax Administrator that could affect tax increment throughout the state. The Property Tax Administrator’s proposed changes...more

Missouri legislation limits municipal approval of tax increment financings and increases financial oversight of designated...

by Dentons on

Three new measures signed into law by Missouri Governor Jay Nixon on June 29 will have lasting implications for the creation and administration of tax increment financings (TIFs), community improvement districts (CIDs) and...more

New Economic Development Opportunities Possible Thanks to Improved Marketability of Philadelphia Tax Increment Finance...

by Ballard Spahr LLP on

The tools available to the City of Philadelphia to finance community and economic development projects have been enhanced under a new law that authorizes the imposition of special assessments to support tax increment finance...more

Tax Increment Finance (TIF) Update: HB 15-1348 Technical Corrections Bill Introduced

Last year’s HB 15-1348 created consternation among the lending community—and thus, in the private sector developer community—due to the uncertainty of whether and how the legislation could affect urban renewal plans and...more

Developer Facing 230-Year Sentence Illustrates Necessity of Full and Accurate Disclosure

by McGuireWoods LLP on

Demonstrating the importance of full and accurate disclosure, a Chicago commercial real estate developer faces a maximum sentence of 230 years in prison for misrepresenting his company’s finances. After a two-week trial, on...more

Tax Increment Finance (TIF) Update

The 2016 Colorado General Assembly convened on Jan. 13, 2016, and, as with years past, tax increment will be on the agenda. This client update highlights three issues affecting tax increment financing that are likely to occur...more

Redevelopment Strikes Back

After several failed attempts in previous years, the Legislature passed and the Governor signed AB 2 (Alejo) on September 22, 2015. (Stats. 2015, ch. 319.) AB 2 authorizes a new structure for tax increment financing—the...more

Appellate Court Upholds TIF District Levy and Collection of Taxes

by Franczek Radelet P.C. on

The Illinois Appellate Court recently upheld the actions of a city council in its establishment and implementation of a TIF district (Devyn Corp. v. City of Bloomington). In this case, the Court addressed the adequacy of a...more

Illinois Court Upholds TIF District Levy and Collection of Taxes

by Franczek Radelet P.C. on

An Illinois Appellate Court recently upheld the actions of a city council in its establishment and implementation of a TIF district through the Tax Increment Allocation Redevelopment Act, (Devyn Corp v. City of Bloomington)....more

Tax Increment Financing Implementation Changes Coming Soon

As many of you who are involved in developing projects in urban renewal or downtown development areas know, the principal method for financing such projects is tax increment financing (TIF). Tax increment financing is...more

House Bill 15-1348-Urban Renewal – Frequently Asked Questions

by Butler Snow LLP on

H.B. 15-1348 was signed by the Governor on May 29. The bill enacts several changes related to urban renewal authorities and tax increment financing for such authorities including governance changes and changes related to how...more

The Economic Development Toolbox: "The Utility Player" - Tax Increment Financing

by Benesch on

Tax increment financing (“TIF”) is a tool that is commonly used throughout the country to finance public infrastructure and other improvements. But while its use may appear to be fairly limited, TIF is actually extremely...more

Are You Complying? New 2015 Laws Affecting Public Agencies

by Best Best & Krieger LLP on

Community leaders need to be attentive to the new laws that will take effect in 2015 that deal with issues specifically relating to cities, special districts and other public agencies. These new laws cover everything from...more

New Laws of 2015: New Tax Infrastructure Financing Tools

by Best Best & Krieger LLP on

The final article in the New Laws of 2015 series focuses on new legislation that makes it easier for municipalities and special districts to harness tax increment — the future incremental growth in property tax revenues — for...more

SB 628: Investing Tax Increment in Infrastructure and Economic Development

by Best Best & Krieger LLP on

It will be slightly easier for municipalities and special districts to harness the tax increment for financing infrastructure projects under Senate Bill 628. Infrastructure Financing Districts, which have existed in...more

Governor Brown Signs into Law AB 229 and SB 628, Giving New Life to Tax Increment Financing

by Nossaman LLP on

In late September, Governor Brown signed into law AB 229 and SB 628, which are intended to finance public capital facilities or other specified projects of communitywide significance previously financed by redevelopment...more

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