Like many industries across the nation, Ohio’s hospitals are experiencing tight margins, rising costs, and increased demands for medical services. In Ohio, local governments have the power to administer economic...more
On July 18, 2023, Governor Gretchen Whitmer signed a series of bills that will dramatically update the state’s brownfield redevelopment laws to allow the use of tax increment financing for housing projects on brownfield sites...more
Last Friday the Illinois Appellate Court for the Third District shot down a tax increment financing (TIF) district created by the City of Crest Hill finding that the parcels within the proposed TIF area were not contiguous...more
In the fall of 2019, the Ohio General Assembly significantly changed state law governing tax increment financing (TIF) exemptions. For certain TIF projects, local communities can extend the exemptions – and, therefore,...more
Section 118 provides “[i]n the case of a corporation, gross income does not include any contribution to the capital of the taxpayer.” The regulations promulgated under Section 118 under prior law provide, with respect to...more
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
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
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
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
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 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
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
On September 29, 2014, Governor Jerry Brown signed into law Senate Bill 628 (Chapter 785) which provides a mechanism for cities and counties to form Enhanced Infrastructure Financing Districts (EIFDs) to divert property tax...more