Bill > SB0700

This bill amends the Recodified Tax Increment Financing Act to modify the definition of a "downtown district" for downtown development authorities. The key changes are: (1) allowing a downtown district to include more than one separate and distinct geographic area in a business district if certain conditions are met, such as an agreement with a qualified township or the municipality being on both the mainland and islands; (2) specifying that if a downtown district contains multiple geographic areas, they are considered a single downtown district. The bill also makes other technical and clarifying changes to the definitions used in the Act.