News & Analysis as of

Tax Increment Financing

Federal Infrastructure Outline Released - Details Local Agencies Need are Included

by Best Best & Krieger LLP on

Today, the White House released a legislative outline that, for the first time, provides details on the $1.5 trillion infrastructure package discussed by President Trump in recent weeks. ...more

White House Releases Roadmap for Nation’s Infrastructure; Congress Takes the Wheel

by Nossaman LLP on

The White House released its long-awaited infrastructure proposal to Congress this morning, along with the President’s fiscal year 2019 budget proposal. While elements have been hinted at and leaked before, the 55-page...more

New Funding Source for Mass Transit under the SMART Plan

by Bilzin Sumberg on

We have previously written about the need for new funding solutions for public transportation, including mechanisms that capture the added value of mass transit on adjacent properties. ...more

UPDATE: President Trump Signs Tax Reform Legislation Into Law Early

by Ballard Spahr LLP on

On December 22, 2017, President Donald Trump signed into law the most far-reaching tax reform legislation in a generation after Congress approved a short-term spending bill on Thursday, which will keep the government funded...more

West Virginia, Tightening the Belt, and Growth - Financing Public Improvements in Lean Budget Times

Since 2008, many state and local governments around the country have faced budget challenges. As lawmakers struggle to produce balanced budgets in the face of declining revenues, investment in public improvements, such as...more

District Court Invalidates Wheat Ridge Anti-TIF Initiative

On September 8, 2017, a Jefferson County District Court ("Court") essentially struck down Ballot Question 300 (“BQ300”), approved by the Wheat Ridge ("the City") voters on November 3, 2015. The ballot question was an...more

IRS Focuses on Tax Exempt Financings Involving Developers

For a number of years, the IRS Office of Tax-Exempt Bonds ("TEB") has expressed concerns about potential tax abuses that may exist in what it has characterized as "developer-driven deals" involving the use of tax-exempt...more

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?

by Womble Bond Dickinson on

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

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