MA S1826

Bill

To ensure fairness through the economic development tax increment financing program

Introduced
03/29/2021

In Committee
03/29/2021

Crossed Over

Passed

Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

For legislation to ensure fairness through the economic development tax increment financing program. Revenue.

AI Summary

This bill amends Chapter 40, Section 59, paragraph (iii)(b) of the existing law by removing the provision that the ratio of the tax increment financing (TIF) program shall not be less than 1. The TIF program is an economic development tool that allows municipalities to capture the future tax benefits of real estate improvements to finance current improvements. By removing the 1:1 ratio requirement, this bill aims to ensure greater fairness in the administration of the TIF program.

Committee Categories

Budget and Finance

Sponsors (1)

Brendan Crighton (D)*,

Last Action

Accompanied a study order, see H5247 (on 09/26/2022)

Official Document

https://malegislature.gov/Bills/192/S1826

(10 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/192/S1826
Bill	https://malegislature.gov/Bills/192/S1826.pdf

Bill	Bill Name	Last Action	Type
H3003	Ensuring consistent reimbursement of PILOT funding	Accompanied a study order, see H5245	Similar To
H5247	Revenue	No further action taken	Replaced by
S1813	Improving the fairness of our tax laws	Accompanied a study order, see H5247	Similar To
S1857	To promote sustainable economic development throughout Massachusetts	Accompanied a study order, see H5250	Similar To
S1860	Relative to the small commercial tax exemption	Accompanied a study order, see H5250	Similar To
S1867	Relative to taxes due upon the death of active duty personnel and the elderly	Bill reported favorably by committee and referred to the committee on Senate Rules	Similar To
S1907	Relative to excessive executive compensation	Accompanied a study order, see H5250	Similar To
S1975	Granting property tax relief to seniors	Accompanied a study order, see S2743	Similar To
S2312	Relative to motor vehicle excise taxes	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S273	Relative to promoting local economic development	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To

Bill > S1826

MA S1826

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (1)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary