Earlier this session, I testified Neutral (with caveats) on HB 1266, a bill that would simply allow a city that failed to have it’s Renaissance Zone renewed have a second chance to get it back. (see video above)
The caveat to my Neutral testimony was that the committee needs to make sure this remains a clean bill, and that if any other Renaissance Zone provisions are added to this that do not protect taxpayer or weaken current protections that Neutrality would flip to Opposition.
HB 1266 passed the House by a vote of 84-7.
Now comes Senate Bill 2391 which has a host of absurd changes to the Renaissance Zone program itself.
Among the most egregious features of this bill, it:
allows cities to have two islands, not just one,
allows properties to have a 2nd exemption 30 years after the completion of the 1st exemption,
increases the tax-exemption time from 5-years to 7 & 1/2 years,
increases the time between each renewal period from 5 years to 10 years.
Those who have followed my work know that I …
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